Airbus 2015 Annual Report Download - page 204

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 22 l
Notes to the IFRSConsolidatedFinancialStatements
2.2 Group Structure
7. Investments Accounted for under the Equity Method
(In € million)
31December
2015 2014
Investments in joint ventures 1,264 885
Investments in associates 62 2,506
Investments accounted for under the equity method 1,326 3,391
The assets and disposal group of assets and liabilities classified as held for sale consist of:
(In € million) 2015 2014
Intangible assets 144 23
Property, plant and equipment 125 0
Non-current financial assets 1,253 0
Inventory 75 447
Trade receivables 84 262
Other assets 11 0
Cash and cash equivalents 87 18
Assets and disposal group of assets classified as held for sale 1,779 750
Provisions 69 3
Customer advance payments 0674
Other liabilities 162 3
Disposal group of liabilities classified as held for sale 231 680
31December
7.1 Investments in Joint Ventures
The joint ventures in which the Group holds interests are
structured in separate incorporated companies. Under the joint
arrangement agreements, unanimous consent is required from
all parties to the agreement for all relevant activities. The Group
and its partners have rights to the net assets of the company
through the terms of the contractual agreements.
The Group’s material joint ventures are MBDA S.A.S., Paris
(France), Atlas ElektronikGmbH (“Atlas”), Bremen (Germany)
and GIE ATR, Blagnac (France), as parent companies of their
respective groups. Neither of these joint venture companies is
publicly listed.
The Group held a 37.5% stake in MBDA at 31December 2015
and 2014, which is a joint venture between the Group, BAE
Systems and Finmeccanica. MBDA offers missile systems
capabilities that cover the whole range of solutions for air
dominance, ground-based air defence and maritime superiority,
as well as advanced technological solutions for battlefield
engagement.
Atlas is a joint venture of Thyssen Krupp and the Group (which
held a 49% stake at 31December 2015 and 2014). It provides
maritime and naval solutions above and below the ocean
surface and holds a leading position in all fields of maritime
high technology from command and control systems to coastal
surveillance systems and in in-house support.
GIE ATR is manufacturing advanced turboprop aircraft. It is a
50% joint venture between Alenia Aermacchi, a Finmeccanica
group company and AirbusGroup. Both Alenia Aermacchi and
AirbusGroup provide airframes which are assembled by GIE
ATR in France. The members of ATR GIE are legally entitled
to the whole benefits of the company and are liable for the
commitments of the company. GIE ATR is obliged to transfer
its cash to each member of the joint venture.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015