Airbus 2015 Annual Report Download - page 92

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 60 l
Management’sDiscussion andAnalysisofFinancial Condition andResultsofOperations
2.1 Operating and Financial Review
2.1 Operating and Financial Review
The following discussion and analysis is derived from and should be
read together with the audited IFRS Consolidated Financial Statements
oftheGroup asof and for the years ended 31December 2015,
2014and2013 incorporated by reference herein. These financial statements
have been prepared in accordance with International Financial Reporting
Standards (“IFRS”) issued bythe International Accounting Standards
Board as endorsed by the European Union, and with Part9 of Book2
oftheDutchCivil Code. When reference is made to “IFRS”, this intends
tobe EU-IFRS.
The following discussion and analysis also contains certain “non-GAAP
financial measures”, i.e., financial measures that either exclude or include
amounts that are not excluded or included in the most directly comparable
measure calculated and presented in accordance with IFRS. Specifically,
the Group makes use of the non-GAAP measures “EBIT*”, “net cash”
and“freecash flow ”.
The Group uses these non-GAAP financial measures to assess its
consolidated financial and operating performance and believes they are
helpful in identifying trends in its performance. These measures enhance
management’s ability to make decisions with respect to resource allocation
andwhether the Group is meeting established financial goals.
Non-GAAP financial measures have certain limitations as analytical tools,
and should not be considered in isolation or as substitutes for analysis
oftheGroup’s results as reported under IFRS. Because of these limitations,
they should not be considered substitutes for the relevant IFRS measures.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015