Christophe Menard's questions to Airbus SE (EADSY) leadership • Q1 2024
Question
Christophe Menard asked for the divisional split of the Employee Share Ownership Plan (ESOP) cost and whether it should be considered a recurring Q1 expense. He also inquired about the expected timing for the Defence and Space restructuring to yield tangible margin improvements.
Answer
CFO Thomas Toepfer advised that the ESOP cost can be split pro-rata by employee headcount per division. While not a firm commitment, he noted it has become a tradition. On Defence and Space profitability, he stated that while the transformation program is on the right track, achieving the mid-to-high single-digit margin target will take a couple of years and results would not be visible in the immediate next quarter.