Airbus 2015 Annual Report Download - page 103

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 71 l
Management’sDiscussion andAnalysisofFinancial Condition andResultsofOperations
Registration Document 2015
2.
2.1 Operating and Financial Review
Consolidated other financial result improved from € ‑458million
for 2014 to € ‑319million for 2015 reflecting a € 139million
positive change mainly from a decrease in the negative impact
of revaluation of financial instruments.
Consolidated other financial result reduced from € ‑278million
for 2013 to € ‑458million for 2014. This negative € ‑180million
change mainly results from an increase in the negative impact
of revaluation of financial instruments, related to the weakening
of the euroversus the USdollar in the fourth quarter 2014.
2.1.4.9 Consolidated Income Taxes
For 2015, income tax expense was € ‑677million as compared
to € ‑863million for 2014. The decrease was primarily due to
the sale of shares of Dassault Aviation which has been taxed
at a reduced rate. The effective tax rate was 20% in 2015.
Please refer to the “Notes to the IFRS Consolidated Financial
Statements —Note15: Income tax”.
For 2014, income tax expense was € ‑863million as compared
to € ‑477million for 2013. The increase was primarily due to
the higher income before tax recorded in 2014 (€ 3,213million)
as compared to 2013 (€ 1,960million). The effective tax rate
was 27% in 2014.
2.1.4.10 Consolidated Non-Controlling Interests
For 2015, consolidated profit for the period attributable to non‑
controlling interests was € 2million, as compared to € 7million
for 2014.
2.1.4.11 Consolidated Profit for thePeriod
Attributable to Equity Owners
oftheParent (Net Income)
As a result of the factors discussed above, the Group recorded
consolidated net income of € 2,696million for 2015, as compared
to € 2,343million for 2014.
2.1.4.12 Earnings per Share
Basic earnings were € 3.43 per share in 2015, as compared to
€ 2.99 per share in 2014. The number of issued shares as of
31December 2015 was 785,344,784. The denominator used
to calculate earnings per share was 785,621,099shares (in
2014: 782,962,385), reflecting the weighted average number of
shares outstanding during the year. In 2013, the Group reported
basic earnings of € 1.86 per share, based on a denominator of
792,466,862shares.
Diluted earnings were € 3.42 per share in 2015, as compared
to € 2.99 per share in 2014. The denominator used to
calculate diluted earnings per share was 788,491,929 (in
2014: 784,155,749), reflecting the weighted average number
of shares outstanding during the year, adjusted to assume
the conversion of all potential ordinary shares. In 2013, the
Group reported diluted earnings of € 1.85 per share, based
on a denominator of 794,127,812 shares. For further details,
please refer to the “Notes to the IFRS Consolidated Financial
Statements — Note32: Total equity” and “Note16: Earnings
per share”.
2.1.5 Changes in Consolidated Total Equity (IncludingNon-ControllingInterests)
The following table sets forth a summary of the changes in consolidated total equity for the period 1January 2015 through
31December 2015.
(in €m)
Balance as at 31December 2014 7,079
Profit for the period 2,698
Other comprehensive income (2,649)
Thereof foreign currency translation adjustments 277
Cash distribution to shareholders/ dividends paid to non‑controlling interests (948)
Capital increase 142
Equity transactions (IAS27) 56
Share buy‑back (487)
Share‑based payment (IFRS2) 29
Convertible bond 53
Balance as at 31December 2015 5,973
Please refer to the “AirbusGroupSE IFRS Consolidated Financial
Statements — IFRS Consolidated Statements of Changes in
Equity for the years ended 31December 2015 and 2014” and
to the “Notes to the IFRS Consolidated Financial Statements
— Note32: Total equity”.
Set forth below is a discussion on the calculation of accumulated
other comprehensive income (“AOCI”) and the related impact
on consolidated total equity.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015
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