{"id":70459,"date":"2025-07-30T12:02:03","date_gmt":"2025-07-30T12:02:03","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2025\/07\/30\/hermes-international-2025-half-year-results\/"},"modified":"2025-07-30T12:02:03","modified_gmt":"2025-07-30T12:02:03","slug":"hermes-international-2025-half-year-results","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/hermes-international-2025-half-year-results\/","title":{"rendered":"Herm\u00e8s International: 2025 Half-year Results"},"content":{"rendered":"<div>\n<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p align=\"center\"><em>Half-year information report as at the end of June 2025<\/em><\/p>\n<p align=\"center\"><strong>Solid Sales growth and Recurring operating income up 6%<\/strong><\/p>\n<p align=\"center\">Revenue amounted to \u20ac8 billion <br \/>(+8% at constant exchange rates and +7% at current exchange rates)<br \/>Recurring operating income reached \u20ac3.3 billion (41.4% of sales)<\/p>\n<p align=\"right\">Paris, 30 July 2025<\/p>\n<p align=\"justify\">The group\u2019s consolidated revenue in the first half of 2025 amounted to \u20ac8 billion, up 8% at constant exchange rates and 7% at current exchange rates compared to the same period in 2024. All the geographical areas recorded growth. Recurring operating income reached \u20ac3.3 billion (41.4% of sales), up 6%.<\/p>\n<p align=\"justify\">In the second quarter, sales reached \u20ac3.9 billion, increasing by 9% at constant exchange rates, an improvement compared to the first quarter. All the regions grew.<\/p>\n<p align=\"justify\">Axel Dumas, Executive Chairman of Herm\u00e8s, said: <em>\u201cThe solid first-half results across all regions reflect the strength of the Herm\u00e8s model. I would like to thank all our customers for their trust and all our employees for their commitment. We will continue to invest and recruit to ensure the group\u2019s sustained success.\u201d<\/em> <\/p>\n<p align=\"justify\"><strong>Sales by geographical area at the end of June<\/strong><br \/><em>(at constant exchange rates, unless otherwise indicated)<\/em><\/p>\n<p align=\"justify\">At the end of June 2025, all the geographical areas posted growth. The qualitative development of the exclusive distribution network has continued.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">Asia excluding Japan (+3%) posted growth in the second quarter in all the countries of the region, despite the difficult context. The region benefitted from the loyalty of local clients and the value strategy. In June, the Four Seasons Macao store reopened after renovation and expansion work, following the Taichung store in Taiwan at the end of March. In Thailand, the store in Bangkok\u2019s Central Embassy mall reopened in January after renovation and expansion work. The <em>Herm\u00e8s in the Making<\/em> traveling event was staged in Shenzhen in May, giving our clients the opportunity to discover the house\u2019s exceptional savoir-faire and materials.\n<\/li>\n<li style=\"text-align:justify;\">Japan (+16%) pursued its remarkable growth, driven by the loyalty of local clients and its qualitative distribution network.\n<\/li>\n<li style=\"text-align:justify;\">The Americas (+12%) confirmed solid momentum in a more volatile context, driven by double-digit growth in the United States. In June, New York hosted the <em>Mystery at the Grooms\u2019 <\/em>event<em>, <\/em>a joyful and interactive event showcasing the creativity of the house\u2019s 16 m\u00e9tiers.\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">Europe excluding France (+13%) achieved solid growth supported by the loyalty of the local clients and dynamic tourist flows. France (+9%) benefited from strong growth in the group\u2019s stores. For its 15th edition, the Saut Herm\u00e8s celebrated its return to the Grand Palais in Paris with the victory of our partner riders. In Italy, the store in Florence reopened in February after being renovated and expanded.<\/li>\n<li style=\"text-align:justify;\">The Other area (+17%), which mainly includes the Middle East, achieved a particularly robust performance.<\/li>\n<\/ul>\n<p align=\"justify\"><strong>Sales by sector at the end of June<\/strong><br \/><em>(at constant exchange rates, unless otherwise indicated)<\/em><\/p>\n<p align=\"justify\">At the end of June 2025, the Leather Goods and Saddlery and the Other Herm\u00e8s sectors achieved noteworthy performances. <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">The Leather Goods and Saddlery m\u00e9tier (+12%) posted solid growth, in line with the trajectory for the year, thanks to the increase in production capacities and sustained demand across all geographical areas. Collections were enhanced with new formats such as the <em>Faubourg Express, P\u2019tit Ar\u00e7on, M\u00e9dor<\/em> and <em>Bolide Messenger<\/em> bags. The increase in production capacities continued with the upcoming September inauguration of the leather goods workshop in L\u2019Isle-d\u2019Espagnac (Charente), and ongoing construction of the workshops in Loupes (Gironde) by 2026 and Charleville-M\u00e9zi\u00e8res (Ardennes) by 2027. Herm\u00e8s has also announced the opening of a 10th leather goods hub in Normandy with a new site to be inaugurated in Colombelles (Calvados) by 2028. Herm\u00e8s thus continues to reinforce its local anchoring in France through the development of employment and training.\n<\/li>\n<li style=\"text-align:justify;\">The Ready-to-wear and Accessories sector (+6%) benefited from the success of the latest ready-to-wear collections. The women\u2019s fall-winter 2025 collection was successfully unveiled in early March at the Garde R\u00e9publicaine, followed by the second chapter of the collection in June in Shanghai. The men\u2019s summer 2026 runway show, unveiled in Paris at the Palais d\u2019I\u00e9na in June was very well received.\n<\/li>\n<li style=\"text-align:justify;\">The Silk and Textiles sector (+4%) pursued its growth, driven by the dynamic of formats, the richness of materials and the diversity of creations.\n<\/li>\n<li style=\"text-align:justify;\">Perfume and Beauty (-4%) sales are to be compared with a second quarter last year which benefitted from the launch of the <em>Bar\u00e9nia<\/em>, <em>Hermessence<\/em> <em>Oud Alezan <\/em>and<em> H24 Herbes Vives<\/em> perfumes. The perfume collections were enhanced with the creation <em>Terre d\u2019Herm\u00e8s Eau de Parfum Intense,<\/em> and the Herm\u00e8s Beauty line welcomed the new lipstick, <em>Rouge Brillant Silky<\/em>.\n<\/li>\n<li style=\"text-align:justify;\">In a still challenging environment, the Watches m\u00e9tier (-8%) continued their development, notably with the success of the new versions of the <em>Herm\u00e8s H08<\/em> line and the <em>Arceau Le temps<\/em> <em>voyageur<\/em>. The house also unveiled, at Watches &amp; Wonders in Geneva in April, two new expressions of its emblematic complication <em>Le temps suspendu<\/em>, featured in the <em>Arceau<\/em> and <em>Herm\u00e8s Cut<\/em> lines. In early July, Herm\u00e8s announced the strengthening of its production capacities with the expansion of its Noirmont watchmaking site by 2028.\n<\/li>\n<li style=\"text-align:justify;\">The other Herm\u00e8s sectors (+10%), which include Jewellery and the Home universe, recorded solid growth, driven by the house\u2019s unique identity and creative momentum, in particular with the white gold jewellery line, <em>Adage<\/em>. The homeware collections were unveiled at the <em>Salone del Mobile<\/em> in mid-April, revealing the singularity and excellence of the house\u2019s savoir-faire. At the end of May, Herm\u00e8s also announced the laying of the first stone for the new Couzeix workshop dedicated to Tableware.\n<\/li>\n<\/ul>\n<p align=\"justify\"><strong>Strong results in the first half of 2025<\/strong><\/p>\n<p align=\"justify\">Recurring operating income amounted to \u20ac3.3 billion, up by 6% from \u20ac3.1 billion in the first half of 2024. Despite the negative impact of currency hedging, recurring operating profitability reached 41.4% compared to 42.0% at the end of June 2024.<\/p>\n<p align=\"justify\">Consolidated net profit group share amounted to \u20ac2.2 billion compared to \u20ac2.4 billion in the first half of 2024, due to the exceptional contribution on the profits of large companies in France. Excluding this exceptional contribution, net profit group share amounted to \u20ac2.5 billion, up by 6% compared to the first half of 2024.<\/p>\n<p align=\"justify\">The cash flow from operating activities reached \u20ac2.3 billion, up by 4%, at a rate close to that of the operating income. After operational investments (\u20ac0.3 billion) and repayment of lease liabilities (\u20ac0.2 billion) the adjusted free cash flow reached \u20ac1.8\u00a0billion.<\/p>\n<p align=\"justify\">After distribution of ordinary and extraordinary dividends of \u20ac2.7 billion, the restated net cash position amounted to \u20ac10.7 billion at the end of June 2025, compared to \u20ac12.0 billion at the end of December 2024.<\/p>\n<p align=\"justify\"><strong>A sustainable and responsible model<\/strong><\/p>\n<p align=\"justify\">In line with its commitments as a responsible employer, the Herm\u00e8s group continued to create employment, increasing its workforce by more than 500 people over the first six months of the year, including 300 new hires in France. At the end of June 2025, the group employed 25,700 people, 15,900 of whom are based in France. The house distributed in February a \u20ac4,500 bonus to all its employees worldwide for 2024, in order to share the fruits of growth with those who contribute to it on a daily basis.<\/p>\n<p align=\"justify\">Herm\u00e8s continues its commitments to diversity and the inclusion of people with disabilities: In France, the direct employment rate reached 7.90%, representing more than 1,000 employees. <\/p>\n<p align=\"justify\">Herm\u00e8s has continued to implement its initiatives to address climate change and preserve resources. Furthermore, Herm\u00e8s supports the stakeholders in its value chain and continues to encourage their environmental and social initiatives. <\/p>\n<p align=\"justify\">The company has once again been recognized at the Transparency Awards, standing out in the &#8216;CAC Large 60&#8217; category for its exemplary practices in financial, non-financial, and ethical communication.<\/p>\n<p align=\"justify\"><strong>Other highlights <\/strong><\/p>\n<p align=\"justify\">At the end of June 2025, currency fluctuations represented a negative impact of \u20ac77 million on revenue. <\/p>\n<p align=\"justify\">Herm\u00e8s International did not redeem any shares, excluding transactions completed within the framework of the liquidity contract.<\/p>\n<p align=\"justify\"><strong>Outlook<\/strong><\/p>\n<p align=\"justify\">In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.<\/p>\n<p align=\"justify\">In a more uncertain economic and geopolitical context, the group continues its development with confidence, thanks to the highly integrated artisanal model, the balanced distribution network, the creativity of collections and the loyalty of clients.<\/p>\n<p align=\"justify\">Thanks to its unique business model, Herm\u00e8s is pursuing its long-term development strategy based on creativity, maintaining control over know-how and singular communication.<\/p>\n<p align=\"justify\"><em>Drawn to craft <\/em>is the theme of the year. From the saddle stitch to the pencil stroke, everything at Herm\u00e8s begins with drawing.<\/p>\n<p align=\"center\"><em>Limited review procedures have been carried out on the condensed interim consolidated financial statements by the Statutory Auditors in accordance with applicable regulations. <\/em><\/p>\n<p align=\"center\"><em>The half-year financial report, the press release and the presentation of the 2025 half-year results are available on the group&#8217;s website: <\/em><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=CJnq_9sgmy1-Gh5spO8fCn3q7xNALFxAsVc0fJUo1exTgm0OM8SMM3-3tkim6A3Ox8EG2DR72oRHBw8UG3FqrsEO08euMy1q5c7tjYwbOJBY_8_hmM0pP4V7AJPtEUBl\" rel=\"nofollow\" target=\"_blank\" title=\"\"><em>https:\/\/finance.hermes.com<\/em><\/a> <\/p>\n<p align=\"justify\"><strong>Upcoming events:<\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">23 October 2025: Q3 2025 revenue publication<\/li>\n<li style=\"text-align:justify;\">12 February 2026: 2025 full-year results publication<\/li>\n<li style=\"text-align:justify;\">15 April 2026: Q1 2026 revenue publication<\/li>\n<li style=\"text-align:justify;\">17 April 2026: General Meeting of shareholders<\/li>\n<\/ul>\n<p align=\"center\"><strong><em>FIRST HALF 2025 KEY FIGURES<\/em><\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:401.8pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:302.4px;;border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2025<\/strong><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Revenue<\/strong><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>8,034<\/strong><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>15,170<\/strong><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>7,504<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>Growth at current exchange rates vs. n-1<\/em><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>7.1%<\/em><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>13.0%<\/em><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>12.0%<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>Growth at constant exchange rates vs. n-1 <\/em><sup>(1)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>8.1%<\/em><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>14.7%<\/em><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>15.1%<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Recurring operating income <\/strong><sup>(2)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>3,327<\/strong><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>6,150<\/strong><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>3,148<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>As a % of revenue<\/em><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>41.4%<\/em><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>40.5%<\/em><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>42.0%<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Operating income<\/strong><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>3,327<\/strong><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>6,150<\/strong><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>3,148<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>As a % of revenue<\/em><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>41.4%<\/em><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>40.5%<\/em><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>42.0%<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Net profit \u2013 Group share<\/strong><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>2,246<\/strong><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>4,603<\/strong><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>2,368<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>As a % of revenue *<\/em><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>28.0%<\/em><\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>30.3%<\/em><\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><em>31.6%<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Operating cash flows<\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,733<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">5,378<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,829<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Operating investments<\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">316<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">1,067<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">319<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Adjusted free cash flows <sup>(3)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">1,847<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">3,767<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">1,776<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Equity \u2013 Group share<\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">16,602<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">17,327<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">15,052<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net cash position <sup>(4)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">10,319<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">11,642<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">9,477<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Restated net cash position <sup>(5)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">10,723<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">12,039<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">10,033<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:72.74px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:75.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:302.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Workforce (number of employees) <sup>(<\/sup><sup>6<\/sup><sup>)<\/sup><\/td>\n<td style=\"width:72.74px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">25,697<\/td>\n<td style=\"width:85px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">25,185<\/td>\n<td style=\"width:75.6px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">23,874<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup>(1)\u00a0\u00a0\u00a0<\/sup><em>Growth at constant exchange rates is calculated by applying, for each currency, the average exchange rates of the previous period to the revenue for the period. <\/em><\/p>\n<p align=\"justify\"><sup>(2)\u00a0\u00a0\u00a0<\/sup><em>Recurring operating income is one of the main performance indicators monitored by Group Management. It corresponds to operating income excluding non\u2011recurring items having a significant impact that may affect understanding of the group\u2019s economic performance. <\/em><\/p>\n<p align=\"justify\"><sup>(3)\u00a0\u00a0\u00a0<\/sup><em>Adjusted free cash flows are the sum of cash flows related to operating activities, less operating investments and the repayment of lease liabilities <\/em><em>recognised<\/em><em> in accordance with IFRS 16 (aggregates in the consolidated statement of cash flows).<\/em><\/p>\n<p align=\"justify\"><sup>(4)\u00a0\u00a0\u00a0<\/sup>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<em>Net cash position includes cash and cash equivalents presented under balance sheet assets, less bank overdrafts which appear under short\u2011term borrowings and financial liabilities on the liabilities side. Net cash position does not include lease liabilities <\/em><em>recognised<\/em><em> in accordance with IFRS 16.<\/em><\/p>\n<p align=\"justify\"><sup>(5)\u00a0\u00a0\u00a0<\/sup>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<em>The restated net cash position corresponds to net cash plus cash investments that do not meet the IFRS criteria for cash equivalents due in particular to their original maturity of more than three months, less borrowings and financial liabilities.<\/em> <\/p>\n<p align=\"justify\"><sup>(6)\u00a0\u00a0\u00a0<\/sup><em>Permanent + fixed\u2011term employment contracts with no length of service condition<\/em><em> (<\/em><em>23,242 published at the end of June 2024, excluding fixed-term contracts of less than 9 months, before the CSRD methodology change<\/em><em>)<\/em><em>.<\/em><\/p>\n<p align=\"justify\"><em>* 31.2% in the first half of 2025 after restatement of the exceptional contribution on the profits of large companies in France.<\/em><\/p>\n<p align=\"center\"><strong><em>REVENUE BY GEOGRAPHICAL AREA <\/em><\/strong><sup><strong><em>(<\/em><\/strong><\/sup><sup><strong><em>a<\/em><\/strong><\/sup><sup><strong><em>) <\/em><\/strong><\/sup> <\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:467.75pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:179.54px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:197.27px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>First half<\/strong><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: bottom ; \"><em>In millions of Euros<\/em><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">France<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">740<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">680<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">8.7%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">8.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Europe (excl. France)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,088<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">970<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.1%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong><em>Total Europe<\/em><\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>1,828<\/em><\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>1,651<\/em><\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>10.7%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>11.0%<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Japan<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">815<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">693<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">17.6%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">16.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Asia-Pacific (excl. Japan)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,574<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,521<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">1.5%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">3.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong><em>Total Asia<\/em><\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>4,389<\/em><\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>4,213<\/em><\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>4.2%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>5.1%<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Americas<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,455<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,329<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">9.5%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Other (Middle East)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">362<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">311<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">16.3%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">17.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>8,034<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>7,504<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>7.1%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>8.1%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:467.75pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:179.54px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:197.27px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>2<\/strong><sup><strong>nd<\/strong><\/sup><strong> quarter<\/strong><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: bottom ; \"><em>In millions of Euros<\/em><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">France<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">383<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">368<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">4.1%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">4.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Europe (excl. France)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">588<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">526<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.7%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong><em>Total Europe<\/em><\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>971<\/em><\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>894<\/em><\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>8.6%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>9.1%<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Japan<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">394<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">336<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">17.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">14.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Asia-Pacific (excl. Japan)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,603<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,601<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">0.1%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">5.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong><em>Total Asia<\/em><\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>1,997<\/em><\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>1,937<\/em><\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>3.1%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>6.9%<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Americas<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">760<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">715<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">6.3%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \">Other (Middle East)<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">177<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">153<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">15.7%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">20.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,905<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,699<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>5.6%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>9.0%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><sup>(a)<\/sup> Sales by destination.<\/p>\n<p align=\"center\"><strong><em>REVENUE BY SECTOR<\/em><\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.47px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:197.27px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>First half<\/strong><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: bottom ; \"><em>In millions of Euros<\/em><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Leather Goods and Saddlery <sup>(1)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,578<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,215<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.3%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Ready-to-wear and Accessories <sup>(2)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2,255<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2,162<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">4.3%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">5.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Silk and Textiles<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">447<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">436<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">2.6%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">3.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Other Herm\u00e8s sectors <sup>(3)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,056<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">967<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">9.2%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">10.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Perfume and Beauty<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">248<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">259<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(4.1)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(3.8)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Watches<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">281<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">308<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(8.9)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(7.9)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Other products <sup>(4)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">168<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">157<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">7.2%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">7.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>8,034<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>7,504<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>7.1%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>8.1%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.47px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:197.27px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>2<\/strong><sup><strong>nd<\/strong><\/sup><strong> quarter<\/strong><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: bottom ; \"><em>In millions of Euros<\/em><\/td>\n<td style=\"width:10.67px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Leather Goods and Saddlery <sup>(1)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,765<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,588<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.2%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">14.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Ready-to-wear and Accessories <sup>(2)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,106<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,101<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">0.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">3.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Silk and Textiles<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">192<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">194<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(1.2)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">2.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Other Herm\u00e8s sectors <sup>(3)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">512<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">462<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.0%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">14.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Perfume and Beauty<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">119<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">129<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(8.0)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(7.2)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Watches<\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">130<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">142<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(8.9)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(5.5)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \">Other products <sup>(4)<\/sup><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">82<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">83<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(2.0)%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">(0.4)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.47px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:10.67px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:93.27px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,905<\/strong><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,699<\/strong><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>5.6%<\/strong><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>9.0%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup>(1)<\/sup> The \u201cLeather Goods and Saddlery\u201d business line includes women\u2019s and men\u2019s bags, travel items, small leather goods and accessories, saddles, bridles and all equestrian objects and clothing.<br \/><sup>(2)<\/sup> The \u201cReady-to-wear and Accessories\u201d business line includes Herm\u00e8s Ready-to-wear for men and women, belts, costume jewellery, gloves, hats and Herm\u00e8s\u2019 shoes.<br \/><sup>(3)<\/sup> The \u201cOther Herm\u00e8s business lines\u201d include Jewellery and Herm\u00e8s home products (Art of Living and Herm\u00e8s Tableware).<br \/><sup>(4)<\/sup> The \u201cOther products\u201d include the production activities carried out on behalf of non-group brands (textile printing, tanning\u2026), as well as John Lobb, Saint-Louis and Puiforcat.<\/p>\n<p align=\"center\"><strong><em>REMINDER \u2013 1<\/em><\/strong><sup><strong><em>ST<\/em><\/strong><\/sup><strong><em> QUARTER 2025<\/em><\/strong><\/p>\n<p align=\"center\"><strong>REVENUE BY GEOGRAPHICAL ZONE <\/strong><sup>(<\/sup><sup>a<\/sup><sup>) <\/sup> <\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:194.87px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:10.94px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:193.4px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>1<\/strong><sup><strong>st<\/strong><\/sup><strong> quarter<\/strong><\/td>\n<td colspan=\"2\" style=\"width:243.4px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: bottom ; \"><em>In millions of Euros<\/em><\/td>\n<td style=\"width:10.94px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">France<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">357<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">312<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">14.2%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">14.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">Europe (excl. France)<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">501<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">444<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.7%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">12.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \"><strong><em>Total Europe<\/em><\/strong><\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>857<\/em><\/strong><\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>757<\/strong><\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong><em>13.3%<\/em><\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong><em>13.3%<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">Japan<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">421<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">357<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">17.9%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">17.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">Asia-Pacific (excl. Japan)<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,971<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,920<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">2.7%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">1.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \"><strong><em>Total Asia<\/em><\/strong><\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong><em>2,392<\/em><\/strong><\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>2,277<\/strong><\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong><em>5.1%<\/em><\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong><em>3.7%<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">Americas<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">695<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">614<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">13.3%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">11.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \">Other (Middle East)<\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">185<\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">158<\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">16.8%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \">14.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:194.87px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:10.94px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.6px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>4,129<\/strong><\/td>\n<td style=\"width:101.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,805<\/strong><\/td>\n<td style=\"width:116.87px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>8.5%<\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: top ; \"><strong>7.2%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><sup>(a)<\/sup> Sales by destination.<\/p>\n<p align=\"center\"><strong>REVENUE BY SECTOR<\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:195.14px;;vertical-align: top ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"width:11px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:193.14px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>1<\/strong><sup><strong>st<\/strong><\/sup><strong> quarter<\/strong><\/td>\n<td colspan=\"2\" style=\"width:243.34px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><strong>Evolution \/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: bottom ; \"><em>In millions of Euros <\/em><\/td>\n<td style=\"width:11px;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2024<\/strong><\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>Published<\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><strong>At constant exchange rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Leather Goods and Saddlery <sup>(1)<\/sup><\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,813<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,628<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">11.4%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">10.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Ready-to-wear and Accessories <sup>(2)<\/sup><\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,149<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,061<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">8.3%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">7.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Silk and Textiles<\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">256<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">242<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">5.6%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">4.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Other Herm\u00e8s sectors <sup>(3)<\/sup><\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">544<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">505<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">7.6%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Perfume and Beauty<\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">129<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">130<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.1%)<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.5%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Watches<\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">151<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">166<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(9.0%)<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(10.0%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \">Other products <sup>(4)<\/sup><\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">87<\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">74<\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">17.5%<\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">16.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:195.14px;;vertical-align: middle ; \"><strong>TOTAL<\/strong><\/td>\n<td style=\"width:11px;;vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:91.47px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>4,129<\/strong><\/td>\n<td style=\"width:101.67px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>3,805<\/strong><\/td>\n<td style=\"width:116.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>8.5%<\/strong><\/td>\n<td style=\"width:126.54px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><strong>7.2%<\/strong><\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup>(1)<\/sup> The \u201cLeather Goods and Saddlery\u201d business line includes women\u2019s and men\u2019s bags, travel items, small leather goods and accessories, saddles, bridles and all equestrian objects and clothing.<br \/><sup>(2)<\/sup> The \u201cReady-to-wear and Accessories\u201d business line includes Herm\u00e8s Ready-to-wear for men and women, belts, costume jewellery, gloves, hats and shoes.<br \/><sup>(3)<\/sup> The \u201cOther Herm\u00e8s business lines\u201d include Jewellery and Herm\u00e8s home products (Art of Living and Herm\u00e8s Tableware).<br \/><sup>(4)<\/sup> The \u201cOther products\u201d include the production activities carried out on behalf of non-group brands (textile printing, tanning\u2026), as well as John Lobb, Saint-Louis and Puiforcat.<\/p>\n<p align=\"center\">APPENDIX \u2013 EXTRACT FROM FIRST HALF CONSOLIDATED ACCOUNTS <\/p>\n<p><strong>CONSOLIDATED INCOME STATEMENT<\/strong><\/p>\n<table style=\"border-collapse: collapse; width:411.1pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2025<\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Revenue<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>8,034 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>7,504 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Cost of sales<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,356)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,206)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Gross margin<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>5,678 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>5,298 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Sales and administrative expenses<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(1,832)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(1,682)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other income and expenses<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(519)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(467)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Recurring operating income<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,327 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,148 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other non-recurring income and expenses<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Operating income<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,327 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,148 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net financial income<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">148 <\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">141 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Net income before tax<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,475 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,289 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Income tax<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(1,230)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(927)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income from associates<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">26 <\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">16 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>CONSOLIDATED NET INCOME<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,271 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,378 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Non-controlling interests<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(25)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(10)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENT<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,246 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,368 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Basic earnings per share <em>(in euros)<\/em><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">21.43 <\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">22.61<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Diluted earnings per share<em> (in euros)<\/em><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">21.39 <\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">22.58<\/td>\n<\/tr>\n<\/table>\n<p><strong>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME<\/strong><\/p>\n<table style=\"border-collapse: collapse; width:481.9pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2025<\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2024<\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Consolidated net income<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,271 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,378 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Changes in foreign currency adjustments<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(501)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">42 <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Hedges of future cash flows in foreign currencies <sup><em>1<\/em><\/sup><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">250 <\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(17)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Items recyclable through profit or loss<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(250)<\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>25 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Assets at fair value <sup><em>1<\/em><\/sup><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(25)<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">30 <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Actuarial gains and losses <sup><em>1<\/em><\/sup><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Items not recyclable through profit or loss<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(25)<\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>30 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Other comprehensive income<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(275)<\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>55 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>NET COMPREHENSIVE INCOME<\/strong><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>1,996 <\/strong><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,433 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\n<ul type=\"square\">\n<li style=\"text-align:left;\"><em>attributable to owners of the parent<\/em><\/li>\n<\/ul>\n<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><em>1,976 <\/em><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><em>2,423 <\/em><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\n<ul type=\"square\">\n<li style=\"text-align:left;\"><em>attributable to non-controlling interests<\/em><\/li>\n<\/ul>\n<\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><em>21 <\/em><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><em>10 <\/em><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:359.47px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; vertical-align: bottom ; \"><em>(1) Net of tax.<\/em><\/td>\n<td style=\"width:94.4px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">\u00a0<\/td>\n<td style=\"width:94.27px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"width:642.54px;;border-top: solid black 1pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p><strong>CONSOLIDATED BALANCE SHEET <\/strong><\/p>\n<p><strong>ASSETS<\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:474.6pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>30\/06\/2025<\/strong><\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>31\/12\/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Goodwill<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">203 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">228<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Intangible assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">229 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">237<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Right-of-use assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,724 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,786<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Property, plant and equipment<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,945 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,980<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Financial assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,059 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,050<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Investments in associates<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">229 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">238<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Deferred tax assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">887 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">929<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other non-current assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">183 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">159<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Non-current assets<\/strong><\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>7,458 <\/strong><\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>7,608<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Inventories and work-in-progress<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,732 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,797<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Trade and other receivables<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">461 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">478<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Current tax receivables<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">45 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">28<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other current assets<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">366 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">398<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Financial derivatives<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">446 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">132<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Cash and cash equivalents<\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">10,321 <\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">11,642<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Current assets<\/strong><\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>14,370 <\/strong><\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,476<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>TOTAL ASSETS<\/strong><\/td>\n<td style=\"width:108.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>21,828 <\/strong><\/td>\n<td style=\"width:108.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>23,084<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><strong>LIABILITIES<\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:475.65pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>30\/06\/2025<\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>31\/12\/2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Share capital<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">54 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">54<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Share premium<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">50 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">50<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Treasury shares<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(675)<\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(670)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Reserves<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">14,375 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">12,464<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Foreign currency adjustments<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(145)<\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">355<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Revaluation adjustments<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">697 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">471<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income attributable to owners of the parent<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,246 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">4,603<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Equity attributable to owners of the parent<\/strong><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>16,602 <\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>17,327<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Non-controlling interests<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">16 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">7<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Equity<\/strong><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>16,617 <\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>17,334<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Borrowings and financial liabilities due in more than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">30 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">61<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Lease liabilities due in more than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,695 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">1,781<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Non-current provisions<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">34 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">33<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Post-employment and other employee benefit obligations due in more than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">181 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">173<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Deferred tax liabilities<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">5 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">5<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other non-current liabilities<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">76 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">69<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Non-current liabilities<\/strong><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,021 <\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>2,120<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Borrowings and financial liabilities due in less than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Lease liabilities due in less than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">334 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">332<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Current provisions<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">88 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">96<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Post-employment and other employee benefit obligations due in less than one year<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">16 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">16<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Trade and other payables<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">659 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">832<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Financial derivatives<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">143 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">161<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Current tax liabilities<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">715 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">773<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other current liabilities<\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,235 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">1,419<\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Current liabilities<\/strong><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>3,190 <\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>3,629<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:416.07px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>TOTAL EQUITY AND LIABILITIES<\/strong><\/td>\n<td style=\"width:109.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>21,828 <\/strong><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>23,084<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><strong>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY<\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:540.65pt; border-collapse:collapse ;\">\n<tr>\n<td rowspan=\"2\" style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: left ;  vertical-align: middle; \"><em>In millions of euros<\/em><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Number of shares<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Share capital<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Share premium<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Treasury shares<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Consolidated reserves and net income attributable to owners of the parent<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Actuarial gains and losses<\/strong><\/p>\n<p><\/td>\n<td rowspan=\"2\" style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: right ;  vertical-align: middle; \"><strong>Foreign currency adjustments<\/strong><\/p>\n<p><\/td>\n<td colspan=\"4\" style=\"width:115.14px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Revaluation adjustments<\/strong><\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Financial investments<\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Hedges of future cash flows in foreign currencies<\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Equity attributable to owners of the parent<\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Non-controlling interests<\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>Equity<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>As at 1 January 2024<\/strong><\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>105,569,412<\/strong><\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>54<\/strong><\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>50<\/strong><\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(698)<\/strong><\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,130<\/strong><\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(75)<\/strong><\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>189<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>521<\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>32<\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,201<\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2<\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,203<\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">4,603<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">4,603<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">28<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">4,631<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other comprehensive income<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(18)<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">166<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">30<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(111)<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">67<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">69<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong><em>Comprehensive income<\/em><\/strong><\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>4,603<\/em><\/strong><\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>(18)<\/em><\/strong><\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>166<\/em><\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>30<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>(111)<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>4,670<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>29<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>4,700<\/em><\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in share capital and share premiums<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Purchase or sale of treasury shares<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">28<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(64)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(36)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(36)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Share-based payments<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">142<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">142<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">142<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividends paid<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,642)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,642)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(63)<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,705)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(7)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2)<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(9)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">39<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">30<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>As at 31 December 2024<\/strong><\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>105,569,412<\/strong><\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>54<\/strong><\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>50<\/strong><\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(670)<\/strong><\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>17,163<\/strong><\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(95)<\/strong><\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>355<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>551<\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(80)<\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>17,327<\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>7<\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>17,334<\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: justify ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income for the first half year of 2025<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,246<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,246<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">25<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,271<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other comprehensive income for the first half year of 2025<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(497)<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(25)<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">250<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(271)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(4)<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(275)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong><em>Comprehensive income for the first half year of 2025<\/em><\/strong><\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>2,246<\/em><\/strong><\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>(497)<\/em><\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>(25)<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>250<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>1,976<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>21<\/em><\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong><em>1,996<\/em><\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in share capital and share premiums<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Purchase or sale of treasury shares<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(5)<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(7)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(7)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Share-based payments<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">66<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">66<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">66<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividends paid<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,753)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,753)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(12)<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,764)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other<\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(5)<\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(3)<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(8)<\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">0<\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(8)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:98.94px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; text-align: left ;  vertical-align: middle; \"><strong>AS AT <\/strong><br \/><strong>30 JUNE 2025<\/strong><\/td>\n<td style=\"width:58.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>105,569,412 <\/strong><\/td>\n<td style=\"width:34.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>54 <\/strong><\/td>\n<td style=\"width:45.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>50 <\/strong><\/td>\n<td style=\"width:45.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>(675)<\/strong><\/td>\n<td style=\"width:64.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>16,717 <\/strong><\/td>\n<td style=\"width:46.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>(95)<\/strong><\/td>\n<td style=\"width:60px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>(145)<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>526 <\/strong><\/td>\n<td colspan=\"2\" style=\"width:55.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>171 <\/strong><\/td>\n<td colspan=\"2\" style=\"width:59.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>16,602 <\/strong><\/td>\n<td colspan=\"2\" style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>16 <\/strong><\/td>\n<td colspan=\"2\" style=\"width:38.34px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>16,617 <\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:529.75pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>As at 1st January 2024<\/strong><\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>105,569,412<\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>54<\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>50<\/strong><\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(698)<\/strong><\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,130<\/strong><\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(75)<\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>189<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>521<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>32<\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,201<\/strong><\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2<\/strong><\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>15,203<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income for the first half year of 2024<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">2,368<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">2,368<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">10<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">2,378<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other comprehensive income for the first half year of 2024<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(0)<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">42<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">30<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(17)<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">55<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">1<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">56<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong><em>Comprehensive income for the first half year of 2024<\/em><\/strong><\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>&#8211;<\/em><\/strong><\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>2,368<\/em><\/strong><\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>(0)<\/em><\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>42<\/em><\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>30<\/em><\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>(17)<\/em><\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>2,423<\/em><\/strong><\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>10<\/em><\/strong><\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong><em>2,433<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in share capital and share premiums<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Purchase or sale of treasury shares<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(0)<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">0<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">0<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Share-based payments<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">69<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">69<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">69<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividends paid<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(2,641)<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(2,641)<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(9)<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(2,650)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other<\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(0)<\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">&#8211;<\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">(0)<\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">23<\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \">22<\/td>\n<\/tr>\n<tr>\n<td style=\"width:99px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; text-align: left ;  vertical-align: middle; \"><strong>AS AT <\/strong><br \/><strong>30 JUNE 2024<\/strong><\/td>\n<td style=\"width:58.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>105,569,412<\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>54<\/strong><\/td>\n<td style=\"width:34.8px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>50<\/strong><\/td>\n<td style=\"width:45.74px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>(698)<\/strong><\/td>\n<td style=\"width:64.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>14,925<\/strong><\/td>\n<td style=\"width:46.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>(75)<\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>231<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>551<\/strong><\/td>\n<td style=\"width:55.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>14<\/strong><\/td>\n<td style=\"width:60.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>15,052<\/strong><\/td>\n<td style=\"width:53.27px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>26<\/strong><\/td>\n<td style=\"width:38.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>15,078<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><strong>CONSOLIDATED STATEMENT OF CASH FLOWS<\/strong><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.85pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><em>In millions of euros<\/em><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2025<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><strong>H1 2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income attributable to owners of the parent<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,246<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2,368 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Depreciation and amortisation of fixed assets, rights of use and impairment losses<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">463<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">383 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Foreign exchange gains\/(losses) on fair value adjustments<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">23<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(19)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in provisions<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">7<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income from associates<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(26)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(16)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net income attributable to non-controlling interests<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">25<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">10 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Capital gains or losses on disposals and impact of changes in scope of consolidation<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(3)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">52 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in deferred tax<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(41)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(5)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Accrued expenses and income related to share-based payments<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">66<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">69 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividend income<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(27)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(16)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(0)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(0)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Operating cash flows<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,733<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,829 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in working capital requirements<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(403)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(584)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>CASH FLOWS RELATED TO OPERATING ACTIVITIES (A)<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,330<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>2,244 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Operating investments<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(316)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(319)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Acquisitions of consolidated shares<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(56)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(218)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Acquisitions of other financial assets<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(46)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(28)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Disposals of operating assets<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">0 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Disposals of consolidated shares and impact of losses of control<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">&#8211;<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">0 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Disposals of other financial assets<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">7<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">0 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Change in payables and receivables related to investing activities<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(26)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(80)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividends received<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">51<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">19 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>CASH FLOWS RELATED TO INVESTING ACTIVITIES (B)<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(384)<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(626)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Dividends paid<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,764)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(2,650)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Repayment of lease liabilities<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(167)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(149)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Treasury share buybacks net of disposals<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(6)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(0)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Borrowing subscriptions<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">9<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">0 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Repayment of borrowings<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(9)<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(1)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Other <\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">2 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>CASH FLOWS RELATED TO FINANCING ACTIVITIES (C)<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(2,937)<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(2,799)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>Foreign currency translation adjustment (D)<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(331)<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>33 <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><strong>CHANGE IN NET CASH POSITION (A) + (B) + (C) + (D)<\/strong><\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(1,322)<\/strong><\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><strong>(1,147)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net cash position at the beginning of the period<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">11,642<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">10,625 <\/td>\n<\/tr>\n<tr>\n<td style=\"width:421.4px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net cash position at the end of the period<\/td>\n<td style=\"width:110.67px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">10,319<\/td>\n<td style=\"width:110.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">9,477 <\/td>\n<\/tr>\n<\/table>\n<p id=\"gnw_attachments_section-header\">\n    <strong>Attachment<\/strong>\n<\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n        <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/Tracker?data=cTyHPlDu3stUCWq6SLD1T9H4C0G5vDue_ls9ISpDoiJMp6pp90bHSHHOxFdJKD7IO951Y8FUviuJs209NpVnyaExvxv4lcVoLrT0WgXvqDGDzg5tcDasgv8ONiTWa_Gv4kaf9RcJ_071WB7PoAvSZZJcdy64TUqOceySTSszQlZOUPqnbz1kNjjj7t33AoeRSErK68qWZloJ5GQCmZsnCQ==\" title=\"hermes_20250730_pr_firsthalfresults_va\" rel=\"nofollow\">hermes_20250730_pr_firsthalfresults_va<\/a>\n      <\/li>\n<\/ul>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/MzI5NjNjYTMtMDZjYS00NjQ0LTkzZjYtZDU3NDQwMTFmZmUxLTEwMTExMzEtMjAyNS0wNy0zMC1lbg==\/tiny\/Herm-s-International.png\" referrerpolicy=\"no-referrer-when-downgrade\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Half-year information report as at the end of June 2025 Solid Sales growth and Recurring operating income up 6% Revenue amounted to \u20ac8 billion (+8% at constant exchange rates and +7% at current exchange rates)Recurring operating income reached \u20ac3.3 billion (41.4% of sales) Paris, 30 July 2025 The group\u2019s consolidated revenue in the first [&#8230;]\n","protected":false},"author":1,"featured_media":79226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-70459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.6 (Yoast SEO v21.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Herm\u00e8s International: 2025 Half-year Results - Biz and Live in Saigon<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.saigonbiz.com\/vn\/hermes-international-2025-half-year-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Herm\u00e8s International: 2025 Half-year Results\" \/>\n<meta property=\"og:description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Half-year information report as at the end of June 2025 Solid Sales g\" \/>\n<meta property=\"og:url\" content=\"https:\/\/english.saigonbiz.com\/vn\/hermes-international-2025-half-year-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Biz and Live in Saigon\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SaigonbizGroup\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-30T12:02:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/english.saigonbiz.com\/vn\/wp-content\/uploads\/2025\/07\/Herm-s-International.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1\" \/>\n\t<meta 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