{"id":83249,"date":"2026-07-29T12:15:56","date_gmt":"2026-07-29T12:15:56","guid":{"rendered":"https:\/\/english.saigonbiz.com\/vn\/hermes-international-2026-half-year-results\/"},"modified":"2026-07-29T12:15:56","modified_gmt":"2026-07-29T12:15:56","slug":"hermes-international-2026-half-year-results","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/hermes-international-2026-half-year-results\/","title":{"rendered":"Herm\u00e8s International: 2026 Half-year Results"},"content":{"rendered":"<div>\n<p align=\"center\"><i>Half-year information report as at the end of June 2026<\/i><\/p>\n<p align=\"center\"><b>Solid sales momentum and excellent results in the first half<\/b><br \/>Revenue amounted to \u20ac8.2 billion<br \/>(+6% in the first quarter and +7% in the second quarter, at constant exchange rates)<br \/>Recurring operating profitability reached 41.0% of sales<br \/>Adjusted free cash flow grew by 18%<\/p>\n<p align=\"right\">Paris, 29 July 2026<\/p>\n<p align=\"justify\">The group\u2019s consolidated revenue in the first half of 2026 amounted to \u20ac8.2 billion, up 6% at constant exchange rates and 2% at current exchange rates compared to the same period in 2025. All the regions recorded growth, with the exception of the Middle East, which showed good resilience in a challenging environment. The Americas, Japan and Europe excluding France recorded remarkable progression in both the first and second quarters. Recurring operating income amounted to \u20ac3.4 billion (41.0% of sales), slightly up.<\/p>\n<p align=\"justify\">In the second quarter, sales reached \u20ac4.1 billion, up 7% at constant exchange rates, marking a slight acceleration from the first quarter, notably in France, in Japan and in the Middle East.<\/p>\n<p align=\"justify\">Axel Dumas, Executive Chairman of Herm\u00e8s, commented: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br \/><i>\u201cIn the first half of 2026, Herm\u00e8s delivered a solid performance, which reflects the strong desirability of its 16 m\u00e9tiers and the trust of its clients. Convinced by the strength of our unique artisanal model and in control of our key balances, we look to the second semester with confidence.\u201d<\/i><\/p>\n<p align=\"justify\"><b>Sales by geographical area at the end of June<\/b><br \/><i>(at constant exchange rates unless otherwise indicated)<\/i><\/p>\n<p align=\"justify\">At the end of June 2026, all the geographical areas posted growth with the exception of the Middle East, slightly down.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">Asia excluding Japan (+2%) continued its growth, notably in Greater China. Korea delivered an outstanding performance. January saw the opening of the new store in Hanoi, Vietnam, followed in early April by the new Sanlitun store in Beijing, China. The Hong Kong Elements and Taipei Sogo Fuxing stores reopened at the end of April, after renovation and expansion work. In May, the <i>Herm\u00e8s in the Making<\/i> travelling exhibition, which showcases the savoir-faire of our artisans was presented in Shanghai.\n<\/li>\n<li style=\"text-align:justify;\">Japan (+11%) recorded strong growth, with an acceleration in the second quarter. This performance was supported by strong traffic and the loyalty of local customers. Following the expansion and renovation of the Hilton Plaza East store in Osaka in May, the house inaugurated its new store in Nagoya in June.\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">The Americas (+15%) once again delivered a remarkable performance, following an exceptional first quarter, with solid, balanced growth across all countries and m\u00e9tiers. In Los Angeles in June, the house revealed the second chapter of the women\u2019s fall-winter 2026 ready-to-wear collection, with great success.\n<\/li>\n<li style=\"text-align:justify;\">Europe excluding France (+9%) continued its solid momentum across all countries in the region. The Berlin store in Germany reopened in May after renovation and expansion work. On 16 June, the house inaugurated a new Herm\u00e8s Maison at 166 New Bond Street in London in the United Kingdom. Spanning six buildings and more than 2,000 square metres, this sixth Maison showcases Herm\u00e8s\u2019 exceptional creativity and savoir-faire.\n<\/li>\n<li style=\"text-align:justify;\">France (+2%) posted a solid acceleration in the second quarter, driven by both local customers and a recovery in tourist traffic.\n<\/li>\n<li style=\"text-align:justify;\">The Other area (-4%), which mainly comprises the Middle East, demonstrated remarkable resistance in an unstable geopolitical environment. The second quarter showed a gradual recovery, driven by local customers and the house\u2019s value strategy.\n<\/li>\n<\/ul>\n<p align=\"justify\"><b>Sales by sector at the end of June<\/b><br \/><i>(at constant exchange rates unless otherwise indicated)<\/i><\/p>\n<p align=\"justify\">At the end of June 2026, all the m\u00e9tiers, with the exception of Perfume and Beauty, delivered positive growth. The Leather Goods and Saddlery, Ready-to-wear and Accessories, Silk and Textiles as well as Watches m\u00e9tiers accelerated in the second quarter.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">Leather Goods and Saddlery (+10%) recorded a solid performance, with slightly higher growth in the second quarter. The sector benefited from the high desirability of the collections in all the regions. The new <i>Cliquetis<\/i>, <i>Kelly Hobo<\/i> and <i>Double Longe<\/i> models have been met with great success. Herm\u00e8s continued to increase its production capacities, with the opening of a twenty-fifth leather goods workshop in Loupes (Gironde) in early April. Three further leather goods workshops are scheduled to open in the coming years: Charleville-M\u00e9zi\u00e8res (Ardennes) in 2027, Colombelles (Calvados) in 2028 and Les Andelys (Eure) by 2030. 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 (+2%) benefitted from a notable improvement in the second quarter driven by strong momentum in ready-to-wear. The women\u2019s fall-winter 2026 collection was successfully unveiled in early March at the Garde R\u00e9publicaine, followed by the second chapter of the collection in June in Los Angeles, which generated tremendous enthusiasm.\n<\/li>\n<li style=\"text-align:justify;\">The Silk and Textiles sector (+10%) delivered a remarkable performance, with an acceleration in the second quarter, driven by abundant creativity and a rich palette of colours, designs and shapes. To mark the opening of Maison Bond Street in London, the <i>Bouquet Final<\/i> and <i>Cocoricooooo<\/i> scarves were reinterpreted in tribute to the capital of the United Kingdom, while <i>The New Herm\u00e8s Record<\/i> scarf was unveiled in an exclusive edition created for the occasion, embodying the house\u2019s creative vitality with boldness and elegance.\n<\/li>\n<li style=\"text-align:justify;\">Perfume and Beauty (-4%) continued the development of its lines. The Perfume universe was enhanced with a seventh creation in the <i>Jardin<\/i> collection, <i>Un Jardin sous la Mer<\/i>, together with a new <i>Hermessence<\/i> fragrance, <i>Musc Pallida<\/i>. The first foundation in the Herm\u00e8s Beauty Line, <i>Plein Air<\/i>, launched at the beginning of the year, has met with great success.\n<\/li>\n<li style=\"text-align:justify;\">The Watches m\u00e9tier, stable over the first half, posted solid growth in the second quarter. The m\u00e9tier drew on the strength of its iconic collections, including <i>Cape Cod<\/i>, and the enrichment of its offering. At the Watches &amp; Wonders exhibition in Geneva, the house notably unveiled a titanium skeleton version of its <i>Herm\u00e8s<\/i> <i>H08 <\/i>watch, equipped with the new H1978 calibre. The expansion of production capacities continues with the extension of the watchmaking facility in Le Noirmont (Switzerland), scheduled for completion by 2028.\n<\/li>\n<li style=\"text-align:justify;\">The Other Herm\u00e8s sectors (+5%), which include Jewellery and the Home Universe, continued to grow, revealing the full creative strength and singularity of the house. The ninth Haute Bijouterie collection, <i>Into the Horsescape<\/i>, was unveiled to great enthusiasm in early July, at the Mus\u00e9e des Arts D\u00e9coratifs in Paris. Meanwhile, the Home collections took centre stage at the Salone del Mobile in April, highlighting the excellence of Herm\u00e8s\u2019 savoir-faire.\n<\/li>\n<\/ul>\n<p align=\"justify\"><b>High profitability and strong cash flow growth<\/b><\/p>\n<p align=\"justify\">Recurring operating income amounted to \u20ac3.4 billion compared to \u20ac3.3 billion in the first half of 2025, slightly up. Despite the negative impact of currencies, recurring operating profitability reached 41.0%, compared to 41.4% at the end of June 2025.<\/p>\n<p align=\"justify\">Consolidated net profit (group share) remained stable at \u20ac2.2 billion. It includes, as in the first half of 2025, the exceptional contribution levied on the profits of large companies in France. Excluding this contribution, consolidated net profit (group share) amounted to \u20ac2.5 billion, representing 30.7% of sales.<\/p>\n<p align=\"justify\">Cash flow from operating activities grew strongly by 16% to \u20ac2.7 billion, driven by a stable change in working capital requirement, resulting notably from effective inventory management and exceptional <br \/>sell-through rates on the latest collections.<\/p>\n<p align=\"justify\">Adjusted free cash flow reached \u20ac2.2\u00a0billion, up by 18%, after accounting for operating investments <br \/>(\u20ac0.3 billion) and repayment of lease liabilities (\u20ac0.2 billion).<\/p>\n<p align=\"justify\">After distribution of dividends of \u20ac1.9 billion and share buybacks dedicated to employee share ownership plans for \u20ac0.2 billion, the restated net cash position amounted to \u20ac12.9 billion at the end of June 2026, compared to \u20ac12.8 billion at the end of December 2025.<\/p>\n<p align=\"justify\"><b>A sustainable and responsible model<\/b><\/p>\n<p align=\"justify\">In line with its commitments as a responsible employer, Herm\u00e8s continued to create employment, increasing its workforce by more than 600 people over the first six months of the year, including 300 in France. At the end of June 2026, the group employed 27,107 people, 16,656 of whom are based in France.<\/p>\n<p align=\"justify\">In February, the house distributed a bonus of \u20ac3,000 to all its employees worldwide for 2025, in order to share the fruits of growth with those who contribute to it daily. <\/p>\n<p align=\"justify\">In March 2026, Herm\u00e8s conducted a new employee survey, entitled \u201cHerm\u00e8s Hears\u201d, inviting all its employees worldwide to share their views on their workplace well-being and their level of engagement. This survey, which 90% of employees completed, highlighted their strong engagement as well as their pride in belonging to the house.<\/p>\n<p align=\"justify\">Herm\u00e8s pursued its action in favour of nature, successfully completing the first two steps of the Science Based Targets for Nature (SBTN) initiative. The materiality assessment and the prioritisation of impacts provide a rigorous scientific basis for setting ambitious and measurable targets. This independent validation demonstrates the strength of Herm\u00e8s\u2019 approach and its commitment to placing biodiversity conservation at the heart of its strategy.<\/p>\n<p align=\"justify\">Furthermore, Herm\u00e8s participated in the launch of the fourth Livelihoods Fund, of which it has been a partner since 2012. The fund combines action to fight climate change, support for the transition to regenerative agriculture, and improvement of local livelihoods.<\/p>\n<p align=\"justify\">Finally, Herm\u00e8s has been recognized by the Transparency Awards \u201cVigilance Plan\u201d award, which recognizes the clarity of its communication on its supply chain and the quality of its non-financial disclosures. <\/p>\n<p align=\"justify\"><b>Other highlights<\/b><\/p>\n<p align=\"justify\">At the end of June 2026, currency fluctuations represented a significant negative impact of more than \u20ac360 million on revenue. <\/p>\n<p align=\"justify\">During the first six months of the year, Herm\u00e8s International redeemed 94,846 shares for \u20ac160 million, excluding transactions completed within the framework of the liquidity contract.<\/p>\n<p align=\"justify\"><b>Outlook<\/b><\/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\">The group continues its development with confidence, thanks to the highly integrated artisanal model, 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\">The theme for the year, <i>Venture beyond<\/i>, is an invitation to discover new horizons and renew our curiosity, constantly.<\/p>\n<p align=\"center\"><i>Limited review procedures have been carried out on the condensed interim consolidated financial statements by the Statutory Auditors in accordance with applicable regulations.<\/i><\/p>\n<p align=\"center\"><i>The half-year financial report, the press release and the presentation of the 2026 half-year results are available on the group&#8217;s website: <\/i><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=27H4lugvLCjwkOn-z9YGMsSbfrbgULSrF8SOa3j7dAz9kdh0FGX4JMRessfG8QUOchewhvV7RsHEnARwCeX7ANxl9-fFlnVtURlhrWdGqHinQTdbOxeT8jF5A79pCQ0_\" rel=\"nofollow\" target=\"_blank\" title=\"\"><i><u>https:\/\/finance.hermes.com<\/u><\/i><\/a><\/p>\n<p align=\"justify\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p align=\"justify\"><b>Upcoming events:<\/b><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\">22 October 2026: Q3 2026 revenue publication<\/li>\n<li style=\"text-align:justify;\">11 February 2027: 2026 full-year results publication<\/li>\n<li style=\"text-align:justify;\">22 April 2027: Q1 2027 revenue publication<\/li>\n<li style=\"text-align:justify;\">28 April 2027: General Meeting of shareholders<\/li>\n<\/ul>\n<p><b><i>FIRST HALF 2026 KEY FIGURES<\/i><\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:452.15pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:366.6px;;border-bottom: solid black 1pt ; vertical-align: top ; \"><i>In millions of euros<\/i><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>H1 2026<\/b><\/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: top ; \"><b>2025<\/b><\/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: top ; \"><b>H1 2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>Revenue<\/b><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>8,163<\/b><\/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 ; \"><b>16,002<\/b><\/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 ; \"><b>8,034<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>Growth at current exchange rates vs. n-1<\/i><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>1.6%<\/i><\/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 ; \"><i>5.5%<\/i><\/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 ; \"><i>7.1%<\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>Growth at constant exchange rates vs. n-1 <\/i><sup>(1)<\/sup><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>6.1%<\/i><\/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 ; \"><i>8.9%<\/i><\/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 ; \"><i>8.1%<\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>Recurring operating income <\/b><sup>(2)<\/sup><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>3,351<\/b><\/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 ; \"><b>6,569<\/b><\/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 ; \"><b>3,327<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>As a % of revenue<\/i><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>41.0%<\/i><\/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 ; \"><i>41.0%<\/i><\/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 ; \"><i>41.4%<\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>Operating income<\/b><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>3,351<\/b><\/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 ; \"><b>6,569<\/b><\/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 ; \"><b>3,327<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>As a % of revenue<\/i><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>41.0%<\/i><\/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 ; \"><i>41.0%<\/i><\/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 ; \"><i>41.4%<\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>Net profit \u2013 Group share<\/b><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>2,238<\/b><\/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 ; \"><b>4,524<\/b><\/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 ; \"><b>2,246<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>As a % of revenue *<\/i><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><i>27.4%<\/i><\/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 ; \"><i>28.3%<\/i><\/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 ; \"><i>28.0%<\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Operating cash flows<\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,694<\/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 ; \">5,607<\/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 ; \">2,733<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Operating investments<\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">344<\/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 ; \">1,161<\/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 ; \">316<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;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:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,182<\/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 ; \">3,880<\/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 ; \">1,847<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Equity \u2013 Group share<\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">19,023<\/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 ; \">18,840<\/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 ; \">16,602<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Net cash position <sup>(4)<\/sup><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">12,310<\/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 ; \">12,239<\/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 ; \">10,319<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;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:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">12,926<\/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 ; \">12,773<\/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 ; \">10,723<\/td>\n<\/tr>\n<tr>\n<td style=\"width:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">\u00a0<\/td>\n<td style=\"width:85.07px;;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<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:366.6px;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">Workforce (number of employees)<sup> (6)<\/sup><\/td>\n<td style=\"width:85.07px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">27,107<\/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 ; \">26,494<\/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 ; \">25,697<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup>(1)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup> <i>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. <\/i><\/p>\n<p align=\"justify\"><sup>(2)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup> <i>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. <\/i><\/p>\n<p align=\"justify\"><sup>(3)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup> <i>Adjusted free cash flows are the sum of cash flows related to operating activities, less operating investments and the repayment of lease liabilities <\/i><i>recognised<\/i><i> in accordance with IFRS 16 (aggregates in the consolidated statement of cash flows).<\/i><\/p>\n<p align=\"justify\"><sup>(4)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <i>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 <\/i><i>recognised<\/i><i> in accordance with IFRS 16.<\/i><\/p>\n<p align=\"justify\"><sup>(5)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <i>The restated net cash position corresponds to net cash plus cash investments that do not meet the IFRS criteria for cash equivalents due <\/i><i>in particular to<\/i><i> their original maturity of more than three months, less borrowings and financial liabilities.<\/i><\/p>\n<p align=\"justify\"><sup>(6)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/sup> <i>Permanent + fixed-term employment contracts with no length of service condition.<\/i><\/p>\n<p align=\"justify\"><i>* After restatement of the exceptional contribution on the profits of large companies in France, consolidated net profit (group share) represented 30.7% of revenue in the first half of 2026, compared to 31.2% in the first half of 2025 and 30.3% for full-year 2025.<\/i><\/p>\n<p align=\"center\"><b>REVENUE BY GEOGRAPHICAL AREA<\/b> <sup><b><i>(<\/i><\/b><\/sup><sup><b><i>1<\/i><\/b><\/sup><sup><b><i>)<\/i><\/b><\/sup><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>At the end of June<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/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 ; \">753<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">740<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1.8%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1.8%<\/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 ; \">1,165<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,088<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">7.1%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">8.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b><i>Total Europe<\/i><\/b><\/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 ; \"><b><i>1,918<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>1,828<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>4.9%<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>6.0%<\/i><\/b><\/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 ; \">798<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">815<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(2.1%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">11.0%<\/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 ; \">3,533<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,574<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(1.2%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b><i>Total Asia<\/i><\/b><\/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 ; \"><b><i>4,330<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>4,389<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>(1.3%)<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>4.0%<\/i><\/b><\/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 ; \">1,585<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,455<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">8.9%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">15.3%<\/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 ; \">330<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">362<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(8.9%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(4.2%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>8,163<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>8,034<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>1.6%<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>6.1%<\/b><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.85pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>2<\/b><sup><b>nd<\/b><\/sup><b> quarter<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">407<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">383<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.2%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">627<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">588<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.6%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">8.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b><i>Total Europe<\/i><\/b><\/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 ; \"><b><i>1,033<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>971<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>6.4%<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>7.4%<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">394<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.2%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">12.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,651<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,603<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3.0%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b><i>Total Asia<\/i><\/b><\/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 ; \"><b><i>2,045<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>1,997<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>2.4%<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>4.4%<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">846<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">760<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">11.3%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">13.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">170<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">177<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(4.1%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(2.4%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>4,094<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>3,905<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>4.8%<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>6.7%<\/b><\/td>\n<\/tr>\n<\/table>\n<p><sup><i>(1)<\/i><\/sup><i> Sales by destination.<\/i><\/p>\n<p align=\"center\"><b>REVENUE BY SECTOR<\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.85pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>At the end of June<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">3,761<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3,578<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">5.1%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">9.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">2,198<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2,255<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(2.5%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">469<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">447<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">4.8%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">9.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,065<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,056<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.8%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">5.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">233<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">248<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(6.1%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(4.5%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">269<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">281<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(4.2%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">168<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.2%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>8,163<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>8,034<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>1.6%<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>6.1%<\/b><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.85pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>2<\/b><sup><b>nd<\/b><\/sup><b> quarter<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,912<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,765<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">8.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">10.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,123<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,106<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1.5%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">212<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">192<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">10.6%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">12.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">525<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">512<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">4.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">107<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">119<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(10.3%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(9.5%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">134<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">130<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3.0%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">4.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">82<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>4,094<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>3,905<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>4.8%<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>6.7%<\/b><\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup><b><i>(1)<\/i><\/b><\/sup><i> 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.<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(2)<\/i><\/b><\/sup><i> The \u201cReady-to-wear and Accessories\u201d business line includes Herm\u00e8s Ready-to-wear for men and women, belts, costume <\/i><i>jewellery<\/i><i>, gloves, hats and shoes.<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(3)<\/i><\/b><\/sup><i> The \u201cOther Herm\u00e8s sectors\u201d include <\/i><i>Jewellery<\/i><i> and Herm\u00e8s home products (Art of Living and Herm\u00e8s Tableware).<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(4)<\/i><\/b><\/sup><i> 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 <\/i><i>Puiforcat<\/i><i>.<\/i><\/p>\n<p><b><i>REMINDER \u2013 1st QUARTER 2026<\/i><\/b><\/p>\n<p align=\"center\"><b>REVENUE BY GEOGRAPHICAL AREA<\/b> <sup><b><i>(<\/i><\/b><\/sup><sup><b><i>1<\/i><\/b><\/sup><sup><b><i>)<\/i><\/b><\/sup><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.95pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>1<\/b><sup><b>st<\/b><\/sup><b> quarter<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/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 ; \">347<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">357<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(2.8%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(2.8%)<\/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 ; \">538<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">501<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">7.6%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">9.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b><i>Total Europe<\/i><\/b><\/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 ; \"><b><i>885<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>857<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>3.2%<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>4.5%<\/i><\/b><\/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 ; \">404<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">421<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(3.9%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">9.6%<\/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 ; \">1,881<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,971<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(4.6%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b><i>Total Asia<\/i><\/b><\/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 ; \"><b><i>2,285<\/i><\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>2,392<\/i><\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>(4.5%)<\/i><\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b><i>3.5%<\/i><\/b><\/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 ; \">739<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">695<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">17.2%<\/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 ; \">160<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">185<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(13.4%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(5.9%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:179.54px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>4,070<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>4,129<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>(1.4%)<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>5.6%<\/b><\/td>\n<\/tr>\n<\/table>\n<p><sup><i>(<\/i><\/sup><sup><i>1<\/i><\/sup><sup><i>)<\/i><\/sup><i> Sales by destination.<\/i><\/p>\n<p align=\"center\"><b>REVENUE BY SECTOR<\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:481.85pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; \"><b>\u00a0<\/b><\/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 ; \"><b>1<\/b><sup><b>st<\/b><\/sup><b> quarter<\/b><\/td>\n<td colspan=\"2\" style=\"width:236.2px;;text-align: center ;  vertical-align: middle; vertical-align: middle ; \"><b>Evolution \/2025<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: bottom ; \"><i>In millions of Euros<\/i><\/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 ; \"><b>2026<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>2025<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>Published<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \"><b>At constant exchange rates<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,849<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,813<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">2.0%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">9.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">1,076<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">1,149<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(6.4%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">257<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">256<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.4%<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">7.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">540<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">544<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.6%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">6.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">127<\/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: middle ; \">(2.2%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">0.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">135<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">151<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(10.3%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(3.7%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;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 ; \">86<\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">87<\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">(0.7%)<\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \">3.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:198.34px;;vertical-align: middle ; \"><b>TOTAL<\/b><\/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 ; \"><b>4,070<\/b><\/td>\n<td style=\"width:104px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>4,129<\/b><\/td>\n<td style=\"width:113.4px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>(1.4%)<\/b><\/td>\n<td style=\"width:122.8px;;text-align: right ;  vertical-align: middle; vertical-align: middle ; \"><b>5.6%<\/b><\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><sup><b><i>(1)<\/i><\/b><\/sup><i> The \u201cLeather Goods and Saddlery\u201d business line includes women\u2019s and men\u2019s bags, travel items, small leather goods and<\/i> <i>accessories, saddles, bridles and all equestrian objects and clothing.<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(2)<\/i><\/b><\/sup><i> The \u201cReady-to-wear and Accessories\u201d business line includes Herm\u00e8s Ready-to-wear for men and women, belts, costume <\/i><i>jewellery<\/i><i>, gloves, hats and shoes.<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(3)<\/i><\/b><\/sup><i> The \u201cOther Herm\u00e8s <\/i><i>sectors<\/i><i>\u201d include <\/i><i>Jewellery<\/i><i> and Herm\u00e8s home products (Art of Living and Herm\u00e8s Tableware).<\/i><\/p>\n<p align=\"justify\"><sup><b><i>(4)<\/i><\/b><\/sup><i> 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 <\/i><i>Puiforcat<\/i><i>.<\/i><\/p>\n<p align=\"center\">APPENDIX \u2013 EXTRACT FROM FIRST HALF CONSOLIDATED ACCOUNTS <\/p>\n<p><b>CONSOLIDATED INCOME STATEMENT<\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; 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 ; \"><i>In millions of euros<\/i><\/td>\n<td style=\"width:94.4px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>H1 2026<\/b><\/td>\n<td style=\"width:94.27px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>H1 2025<\/b><\/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 ; \"><b>Revenue<\/b><\/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 ; \"><b>8,163 <\/b><\/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 ; \"><b>8,034 <\/b><\/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 ; \">(2,356)<\/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 ; \"><b>Gross margin<\/b><\/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 ; \"><b>5,807 <\/b><\/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 ; \"><b>5,678 <\/b><\/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 ; \">(1,899)<\/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 ; \">(1,832)<\/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 ; \">(558)<\/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 ; \">(519)<\/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 ; \"><b>Recurring operating income<\/b><\/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 ; \"><b>3,351 <\/b><\/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 ; \"><b>3,327 <\/b><\/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 ; \"><b>Operating income<\/b><\/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 ; \"><b>3,351 <\/b><\/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 ; \"><b>3,327 <\/b><\/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 ; \">90 <\/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 ; \">148 <\/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 ; \"><b>Net income before tax<\/b><\/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 ; \"><b>3,441 <\/b><\/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 ; \"><b>3,475 <\/b><\/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 ; \">(1,217)<\/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 ; \">(1,230)<\/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 ; \">23 <\/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 ; \">26 <\/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 ; \"><b>CONSOLIDATED NET INCOME<\/b><\/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 ; \"><b>2,247 <\/b><\/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 ; \"><b>2,271 <\/b><\/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 ; \">(9)<\/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 ; \">(25)<\/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 ; \"><b>NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENT<\/b><\/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 ; \"><b>2,238 <\/b><\/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 ; \"><b>2,246 <\/b><\/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 <i>(in euros)<\/i><\/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 ; \">21.36 <\/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 ; \">21.43<\/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<i> (in euros)<\/i><\/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 ; \">21.32 <\/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 ; \">21.39<\/td>\n<\/tr>\n<\/table>\n<p><b>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME<\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; 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 ; \"><i>In millions of euros<\/i><\/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 ; \"><b>H1 2026<\/b><\/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 ; \"><b>H1 2025<\/b><\/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 ; \"><b>Consolidated net income<\/b><\/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: middle ; \"><b>2,247 <\/b><\/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 ; \"><b>2,271 <\/b><\/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: middle ; \">135 <\/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 ; \">(501)<\/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>1<\/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: middle ; \">(142)<\/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 ; \">250 <\/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 ; \"><b>Items recyclable through profit or loss<\/b><\/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: middle ; \"><b>(7)<\/b><\/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 ; \"><b>(250)<\/b><\/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><i>1<\/i><\/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: middle ; \">(41)<\/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 ; \">(25)<\/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><i>1<\/i><\/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: middle ; \">&#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 ; \"><b>Items not recyclable through profit or loss<\/b><\/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: middle ; \"><b>(41)<\/b><\/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 ; \"><b>(25)<\/b><\/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 ; \"><b>Other comprehensive income<\/b><\/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: middle ; \"><b>(48)<\/b><\/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 ; \"><b>(275)<\/b><\/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 ; \"><b>NET COMPREHENSIVE INCOME<\/b><\/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: middle ; \"><b>2,200 <\/b><\/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 ; \"><b>1,996 <\/b><\/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;\"><i>attributable to owners of the parent<\/i><\/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 ; \"><i>2,190 <\/i><\/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 ; \"><i>1,976 <\/i><\/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;\"><i>attributable to non-controlling interests<\/i><\/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 ; \"><i>9 <\/i><\/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 ; \"><i>21 <\/i><\/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 ; \"><i>(1) Net of tax.<\/i><\/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><b>CONSOLIDATED BALANCE SHEET<\/b><\/p>\n<p><b>ASSETS<\/b><\/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 ; \"><i>In millions of euros<\/i><\/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 ; \"><b>30\/06\/2026<\/b><\/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 ; \"><b>31\/12\/2025<\/b><\/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 ; \">185 <\/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 ; \">180 <\/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 ; \">228 <\/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 ; \">231 <\/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 ; \">1,934 <\/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 ; \">2,002 <\/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 ; \">3,563 <\/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 ; \">3,486 <\/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 ; \">1,230 <\/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 ; \">1,196 <\/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 ; \">245 <\/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 ; \">227 <\/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 ; \">1,089 <\/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 ; \">914 <\/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 ; \">201 <\/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 ; \">176 <\/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 ; \"><b>Non-current assets<\/b><\/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 ; \"><b>8,674 <\/b><\/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 ; \"><b>8,412 <\/b><\/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 ; \">2,704 <\/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 ; \">2,575 <\/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 ; \">532 <\/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 ; \">418 <\/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 ; \">63 <\/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 ; \">45 <\/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 ; \">298 <\/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 ; \">370 <\/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 ; \">214 <\/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 ; \">262 <\/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 ; \">12,310 <\/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 ; \">12,239 <\/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 ; \"><b>Current assets<\/b><\/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 ; \"><b>16,121 <\/b><\/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 ; \"><b>15,911 <\/b><\/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 ; \"><b>TOTAL ASSETS<\/b><\/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 ; \"><b>24,795 <\/b><\/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 ; \"><b>24,322 <\/b><\/td>\n<\/tr>\n<\/table>\n<p><b>LIABILITIES<\/b><\/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 ; \"><i>In millions of euros<\/i><\/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 ; \"><b>30\/06\/2026<\/b><\/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 ; \"><b>31\/12\/2025<\/b><\/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: top ; \">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: top ; \">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 ; \">(836)<\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(677)<\/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 ; \">17,117 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">14,443 <\/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 ; \">(38)<\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">(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 ; \">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 ; \">438 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">621 <\/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 ; \">2,238 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">4,524 <\/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 ; \"><b>Equity attributable to owners of the parent<\/b><\/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 ; \"><b>19,023 <\/b><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>18,840 <\/b><\/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 ; \">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: top ; \">6 <\/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 ; \"><b>Equity<\/b><\/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 ; \"><b>19,025 <\/b><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>18,846 <\/b><\/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 ; \">4 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">34 <\/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 ; \">1,934 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,987 <\/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 ; \">37 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">38 <\/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 ; \">160 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">146 <\/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 ; \">13 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">14 <\/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 ; \">68 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">72 <\/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 ; \"><b>Non-current liabilities<\/b><\/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 ; \"><b>2,217 <\/b><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>2,291 <\/b><\/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 ; \">1 <\/td>\n<td style=\"width:109px;;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: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 ; \">345 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">325 <\/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 ; \">114 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">122 <\/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 ; \">19 <\/td>\n<td style=\"width:109px;;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: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 ; \">717 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">792 <\/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 ; \">159 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">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 ; \">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 ; \">787 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">452 <\/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 ; \">1,411 <\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \">1,414 <\/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 ; \"><b>Current liabilities<\/b><\/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 ; \"><b>3,553 <\/b><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>3,186 <\/b><\/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 ; \"><b>TOTAL EQUITY AND LIABILITIES<\/b><\/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 ; \"><b>24,795 <\/b><\/td>\n<td style=\"width:109px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; \"><b>24,322 <\/b><\/td>\n<\/tr>\n<\/table>\n<p><b>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY<\/b><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:558.2pt; border-collapse:collapse ;\">\n<tr>\n<td rowspan=\"2\" style=\"width:132.27px;;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; \"><i>In millions of euros<\/i><\/p>\n<p>\u00a0<\/td>\n<td rowspan=\"2\" style=\"width:52.94px;;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; \"><b>Number of shares<\/b><\/p>\n<p>\u00a0<\/td>\n<td rowspan=\"2\" style=\"width:35.47px;;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; \"><b>Share capital<\/b><\/p>\n<p>\u00a0<\/td>\n<td rowspan=\"2\" style=\"width:44.47px;;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; \"><b>Share premium<\/b><\/p>\n<p>\u00a0<\/td>\n<td rowspan=\"2\" style=\"width:43.94px;;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; \"><b>Treasury shares<\/b><\/p>\n<p>\u00a0<\/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; \"><b>Consolidated reserves and net income attributable to owners of the parent<\/b><\/p>\n<p>\u00a0<\/td>\n<td rowspan=\"2\" style=\"width:45px;;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; \"><b>Actuarial gains and losses<\/b><\/p>\n<p>\u00a0<\/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; \"><b>Foreign currency adjustments<\/b><\/p>\n<p>\u00a0<\/td>\n<td colspan=\"3\" style=\"width:114.87px;;text-align: center ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Revaluation adjustments<\/b><\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Financial investments<\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Hedges of future cash flows in foreign currencies<\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Equity attributable to owners of the parent<\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Non-controlling interests<\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-bottom: solid black 1pt ; vertical-align: bottom ; \"><b>Equity<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>As at 1 January 2025<\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>105,569,412 <\/b><\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>54 <\/b><\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>50 <\/b><\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(670)<\/b><\/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 ; \"><b>17,163 <\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(95)<\/b><\/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 ; \"><b>355 <\/b><\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>551 <\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(80)<\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>17,327 <\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>7 <\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>17,334 <\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">4,524<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">4,524<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">36<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">4,560<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">9<\/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 ; \">(525)<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(25)<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">174<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(367)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(365)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>Comprehensive income<\/i><\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/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 ; \"><b><i>4,524<\/i><\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>9<\/i><\/b><\/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 ; \"><b><i>(525)<\/i><\/b><\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>(25)<\/i><\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>174<\/i><\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>4,157<\/i><\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>38<\/i><\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>4,195<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(7)<\/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 ; \">(2)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(9)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(9)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">132<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">132<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">132<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(2,753)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(2,753)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(43)<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(2,796)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(12)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(3)<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(15)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">4<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(11)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>As at 31 December 2025<\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>105,569,412 <\/b><\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>54 <\/b><\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>50 <\/b><\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(677)<\/b><\/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 ; \"><b>19,054 <\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(87)<\/b><\/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 ; \"><b>(173)<\/b><\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>526 <\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>95 <\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>18,840 <\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>6 <\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>18,846 <\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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 of 2026<\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">2,238<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,238<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">9<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,247<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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 of 2026<\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">135<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(41)<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(142)<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(48)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">0<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(48)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>Comprehensive income for the first half of 2026<\/i><\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/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 ; \"><b><i>2,238<\/i><\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/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 ; \"><b><i>135<\/i><\/b><\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>(41)<\/i><\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>(142)<\/i><\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>2,190<\/i><\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>9<\/i><\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>2,200<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(159)<\/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 ; \">(4)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(162)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(162)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">66<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">66<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">66<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(1,915)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(1,915)<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(9)<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(1,924)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">3<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(0)<\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">3<\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(4)<\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(1)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>AS AT 30 JUNE 2026<\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>105,569,412 <\/b><\/td>\n<td style=\"width:35.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>54 <\/b><\/td>\n<td style=\"width:44.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>50 <\/b><\/td>\n<td style=\"width:43.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(836)<\/b><\/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 ; \"><b>19,443 <\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(87)<\/b><\/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 ; \"><b>(38)<\/b><\/td>\n<td style=\"width:59.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>485 <\/b><\/td>\n<td style=\"width:52.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(47)<\/b><\/td>\n<td colspan=\"2\" style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>19,023 <\/b><\/td>\n<td style=\"width:54.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>2 <\/b><\/td>\n<td style=\"width:38.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>19,025 <\/b><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse; margin-left:0; width:556.35pt; border-collapse:collapse ;\">\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>As at 1 January 2025<\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>105,569,412 <\/b><\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>54 <\/b><\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>50 <\/b><\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(670)<\/b><\/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 ; \"><b>17,163 <\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(95)<\/b><\/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 ; \"><b>355 <\/b><\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>551 <\/b><\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(80)<\/b><\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>17,327 <\/b><\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>7 <\/b><\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>17,334 <\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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 of 2025<\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">2,246<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,246<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">25<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">2,271<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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 of 2025<\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(497)<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(25)<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">250<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(271)<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(4)<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(275)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>Comprehensive income for the first year of 2025<\/i><\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/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 ; \"><b><i>2,246<\/i><\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>&#8211;<\/i><\/b><\/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 ; \"><b><i>(497)<\/i><\/b><\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>(25)<\/i><\/b><\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>250<\/i><\/b><\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>1,976<\/i><\/b><\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>21<\/i><\/b><\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b><i>1,996<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(5)<\/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 ; \">(2)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(7)<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:39.07px;;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:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">66<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">66<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">66<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(2,753)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">&#8211;<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(2,753)<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(12)<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(2,764)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;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:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(5)<\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#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: middle ; \">(3)<\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">&#8211;<\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(8)<\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">0<\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \">(8)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;;text-align: left ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>AS AT 30 JUNE 2025<\/b><\/td>\n<td style=\"width:52.94px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>105,569,412 <\/b><\/td>\n<td style=\"width:35.4px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>54 <\/b><\/td>\n<td style=\"width:44.6px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>50 <\/b><\/td>\n<td style=\"width:43.87px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(675)<\/b><\/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 ; \"><b>16,717 <\/b><\/td>\n<td style=\"width:45px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>(95)<\/b><\/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 ; \"><b>(145)<\/b><\/td>\n<td style=\"width:56.47px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>526 <\/b><\/td>\n<td style=\"width:52.54px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>171 <\/b><\/td>\n<td style=\"width:61.2px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>16,602 <\/b><\/td>\n<td style=\"width:54.14px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>16 <\/b><\/td>\n<td style=\"width:39.07px;;text-align: right ;  vertical-align: middle; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle ; \"><b>16,617 <\/b><\/td>\n<\/tr>\n<\/table>\n<p><b>CONSOLIDATED STATEMENT OF CASH FLOWS<\/b><\/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 ; \"><i>In millions of euros<\/i><\/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 ; \"><b>H1 2026<\/b><\/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 ; \"><b>H1 2025<\/b><\/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 ; \">2,238<\/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 ; \">2,246 <\/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 ; \">521<\/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 ; \">463 <\/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 ; \">(57)<\/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 ; \">23 <\/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 ; \">16<\/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 ; \">7 <\/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 ; \">(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 ; \">(26)<\/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 ; \">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 ; \">25 <\/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 ; \">(5)<\/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 ; \">(3)<\/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 ; \">(45)<\/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 ; \">(41)<\/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 ; \">66 <\/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 ; \">(27)<\/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 ; \"><b>Operating cash flows<\/b><\/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 ; \"><b>2,694<\/b><\/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 ; \"><b>2,733 <\/b><\/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 ; \">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 ; \">(403)<\/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 ; \"><b>CASH FLOWS RELATED TO OPERATING ACTIVITIES (A)<\/b><\/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 ; \"><b>2,699<\/b><\/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 ; \"><b>2,330 <\/b><\/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 ; \">(344)<\/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 ; \">(316)<\/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 ; \">(48)<\/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 ; \">(56)<\/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 ; \">(84)<\/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 ; \">(46)<\/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 ; \">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 ; \">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 ; \">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 ; \">&#8211; <\/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 ; \">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 ; \">7 <\/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 ; \">(40)<\/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 ; \">(26)<\/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 ; \">44<\/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 ; \">51 <\/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 ; \"><b>CASH FLOWS RELATED TO INVESTING ACTIVITIES (B)<\/b><\/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 ; \"><b>(469)<\/b><\/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 ; \"><b>(384)<\/b><\/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 ; \">(1,924)<\/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 ; \">(2,764)<\/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 ; \">(173)<\/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 ; \">(167)<\/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 ; \">(160)<\/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 ; \">(6)<\/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 ; \">&#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 ; \">9 <\/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 ; \">(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 ; \">(9)<\/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 ; \">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 ; \"><b>CASH FLOWS RELATED TO FINANCING ACTIVITIES (C)<\/b><\/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 ; \"><b>(2,257)<\/b><\/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 ; \"><b>(2,937)<\/b><\/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 ; \"><b>Foreign currency translation adjustment (D)<\/b><\/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 ; \"><b>98<\/b><\/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 ; \"><b>(331)<\/b><\/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 ; \"><b>CHANGE IN NET CASH POSITION (A) + (B) + (C) + (D)<\/b><\/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 ; \"><b>70<\/b><\/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 ; \"><b>(1,322)<\/b><\/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 ; \">12,239<\/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 ; \">11,642 <\/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 ; \">12,310<\/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 ; \">10,319 <\/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=odYq-u2ufiyUalFWS2JqloIqt98D6Cij5W4khX7VJx-ShgyTCs70qAU1J1U8U4Jy7NSdeHRiVq7STfHawPbehQy02c3AkVW4NAgN6ZtLeg8rB-bXOqo5Al7oDd94xf5--fkMf1AQWzmYZQ3EHz2WlkN6k5DWewlGKy5N1fubDBfIJKDidK0eSjWtIpyRw7hQj4b5ekbzuHOGq1Y3faT99Q==\" title=\"hermes_20260729_pr_firsthalfresults_va\" rel=\"nofollow\">hermes_20260729_pr_firsthalfresults_va<\/a>\n      <\/li>\n<\/ul>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/YmUwNDRhZWQtMGFiNi00MDY5LWEwYjMtOGMzM2Y0ODNjYWJmLTEwMTExMzEtMjAyNi0wNy0yOS1lbg==\/tiny\/Herm-s-International.png\" referrerpolicy=\"no-referrer-when-downgrade\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Half-year information report as at the end of June 2026 Solid sales momentum and excellent results in the first halfRevenue amounted to \u20ac8.2 billion(+6% in the first quarter and +7% in the second quarter, at constant exchange rates)Recurring operating profitability reached 41.0% of salesAdjusted free cash flow grew by 18% Paris, 29 July 2026 The [&#8230;]\n","protected":false},"author":1,"featured_media":85254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-83249","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: 2026 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-2026-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: 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