Airbus 2015 Annual Report Download - page 242

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 60 l
Notes to the IFRSConsolidatedFinancialStatements
2.7 Capital Structure and Financial Instruments
Share premium mainly results from contributions in kind in
the course of the creation of AirbusGroup, cash contributions
from the Group’s initial public offering, capital increases and
reductions due to the issuance and cancellation of shares
as well as cash dividend payments to Airbus Group SE
shareholders.
On 27May 2015, the Shareholders’ General Meeting decided
to distribute a gross amount of € 1.20 per share, which was
paid on 3June 2015. For the fiscal year2015, the Group’s
Board of Directors proposes a cash distribution payment of
€ 1.30 per share.
Retained earnings include mainly the profit of the period and the
changes in other comprehensive income from remeasurements
of the defined benefit liability net of tax which amounts to
€ 491million in 2015 (in 2014: € -1,585million).
On 1July 2015, AirbusGroup issued a convertible bond for
€ 500million with a 7-year maturity (see Note34.3 Financing
liabilities).
Treasury shares represent the amount paid or payable for own
shares held in treasury and relates to the share buyback in 2015.
On 27May 2015, the Annual General Meeting (“AGM”) of
the Company authorised the Board of Directors, for a period
expiring at the AGM to be held in 2016, to issue shares and
grant rights to subscribe for shares in the Company’s share
capital for the purpose of:
 ESOPs in the limit of 0.1% of the Company’s authorised
share capital (see Note30 “Share-based payment”);
 funding the Company and its Group companies, provided
that such powers shall be limited to an aggregate of 0.3% of
the Company’s authorised capital (see Note34.3 “Financing
liabilities”).
For each operation, such powers shall not extend to issuing
shares or granting rights to subscribe for shares if there is no
preferential subscription right and for an aggregate issue price
in excess of € 500million per share issuance.
Also on 27May 2015, the AGM authorised the Board of
Directors for an 18-month period to repurchase up to 10%
of the Company’s issued and outstanding share capital (i.e.
issued share capital excluding shares held by the Company or
its subsidiaries) at a price not exceeding € 85 per share.
AirbusGroup has appointed an Investment Services Provider
to undertake a share buyback on behalf of the Company
for a maximum amount of € 1billion. The buyback will take
place between 2November 2015 and 30June 2016. As of
31December 2015, the Group bought back € 264million of
shares and recognised a financing liability of € 223million
for its irrevocable share buyback commitment at that date.
Recognition of the financing liability led to a corresponding
reduction of equity.
Furthermore, the Annual General Meeting authorised both the
Board of Directors and the CEO, with powers of substitution, that
the number of shares repurchased by the Company pursuant to
the share buyback programme are cancelled. As per decisions
of the Chief Financial Officer upon delegation of the CEO, on
17December 2015, a number of 2,885,243shares have been
cancelled.
32.2 Non-Controlling Interests
The non-controlling interests (NCI) from non-wholly owned subsidiaries amount to € 7million as of 31December 2015 (in 2014:
€ 18million). These NCI do not have a material interest in the Group’s activities and cash flows.
Subsidiaries with NCI that are material to their stand-alone financial information are:
Principal place of business Dresden (Germany) Pretoria (South Africa) La Rinconada (Spain) Speyer (Germany)
2015 2014 2015 2014 2015 2014 2015 2014
Ownership interest held by NCI 35% 35% 25% 25% 38.09% 38.84% 25.10% 25.10%
NCI (in € million)
Profit (loss) allocated to NCI (in € million)
19 21 911 (25) (25) (28) (21)
2221(7) (10) 01
Elbe
FlugzeugwerkeGmbH GEW Technologies (Pty) Ltd. Alestis Aerospace S.L. PFW AerospaceGmbH
Financial Statements 2015
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QRegistration Document 2015
Annual Report 2015 Financial Statements 2015