{"id":9185,"date":"2026-05-20T23:05:00","date_gmt":"2026-05-20T21:05:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=9f2ed43ad029d7e6d1b4d3f5dcbf7d6f"},"modified":"2026-05-20T23:05:00","modified_gmt":"2026-05-20T21:05:00","slug":"elior-delivers-resilient-organic-growth-and-profitability-in-the-first-half-of-fiscal-2025-2026-despite-timing-effects-related-to-the-start-up-of-new-contracts","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=9185","title":{"rendered":"Elior Delivers Resilient Organic Growth and Profitability in the First Half of Fiscal 2025-2026, Despite Timing Effects Related to the Start-Up of New Contracts"},"content":{"rendered":"<ul class=\"bwlistdisc\">\n<li>\n<b>Organic growth of 1.3%, adjusted EBITA margin of 3% and net profit of \u20ac21 million<\/b><\/li>\n<li>\n<b>Provision for losses at completion of \u20ac25 million relating to the contract with an Italian rail operator, in the context of a pricing dispute<\/b><\/li>\n<li>\n<b>Excluding this exceptional item, a net result of \u20ac46 million showing a slight improvement compared to H1 2024-2025 and an adjusted EBITA margin of 3.9% versus 4.1% last year<\/b><\/li>\n<li>\n<b>Positive free cash flow of \u20ac9 million in the first half, reflecting the seasonality of the business and the implementation of the investment policy, compared with an unusual operating working capital variation last year linked to the deployment of our new securitization program<\/b><\/li>\n<li>\n<b>Full-year guidance adjusted to include the timing effects related to the start-up of new contracts and the impact of inflationary pressures:<\/b>\n<ul class=\"bwlistcircle\">\n<li>\n<b>Organic growth between 1% and 2% (vs. 3% and 4% previously),<\/b><\/li>\n<li>\n<b>Adjusted EBITA margin of approximately 3%, excluding the exceptional item recorded in the first half (vs. between 3.5% and 3.7%),<\/b><\/li>\n<li>\n<b>The leverage ratio of around 3.5x (vs. around 3x)<\/b><\/li>\n<\/ul><\/li>\n<li>\n<b>A solid commercial momentum across several markets illustrated by recent contract wins as of end-March, and the continued implementation of the investment policies<\/b><\/li>\n<li>\n<b>The Group remains fully confident in its medium-term profitable growth, supported by strong fundamentals, including a stable core shareholder base, a high level of liquidity (&gt; \u20ac500 million as of end-March 2026), and management continuity ensuring alignment between operational execution and strategy<\/b><\/li>\n<\/ul><p>PARIS LA D\u00c9FENSE--(BUSINESS WIRE)--Regulatory News:<\/p><p>\nToday,<b> Elior Group (Euronext Paris: ELIOR \u2013 ISIN: FR 0011950732), <\/b>a world leader in catering and multiservices, is releasing its unaudited results for the first half of the 2025-2026 fiscal year (six months ended March 31, 2026).<\/p><p>\n<b>Commenting on these results, Daniel Derichebourg, Elior Group\u2019s Chair and CEO, said:<\/b><\/p><p>\n<i>\u201cElior Group's consolidated results for the first half of 2025-2026 reflect a resilient operating performance that was achieved despite inflationary pressures, the timing effects of new contracts, and an exceptional item arising from a pricing dispute concerning a major contract in Italy. The Group has solid fundamentals, as demonstrated by another period of net profit, coming in at \u20ac21 million.<\/i><\/p><p>\n<i>However, the timing lag for new contracts conversion into revenue has led us to adjust our guidance for full-year 2025-2026, without this calling into question the relevance of the strategy we've been implementing since April 2023. The fact that we've got our strategy right is clearly illustrated in the new contracts we've won in recent months, which will gradually translate into revenue growth. We remain fully confident in the sustainability of our profitable growth trajectory.<\/i><\/p><p>\n<i>In this challenging environment, I would like to express my sincere thanks to all our teams for their dedication and commitment to service.\u201d<\/i><\/p><p>\nElior Group delivered resilient consolidated results in the first half of 2025-2026, with organic revenue growth and an EBITA margin that highlights the Group's operating efficiency and solid fundamentals, despite timing effects related to the start-up of new contracts.<\/p><ul class=\"bwlistdisc\">\n<li>\n<b>Consolidated revenue amounted to \u20ac3,179 million, <\/b>representing year-on-year organic growth of 1.3%, driven by a 2.6% organic revenue increase for the Multiservices business.<\/li>\n<li>\n<b>Adjusted EBITA totaled \u20ac95 million, <\/b>compared with \u20ac132 million in H1 2024-2025. The <b>adjusted EBITA margin was 3% and 3,9% excluding the exceptional item in Italy, <\/b>versus 4.1% last year.<b> <\/b>The year-on-year decrease in these items reflects a lower contribution from the Contract Catering business, which was partially offset by a strong performance from Multiservices.<\/li>\n<li>\n<b>The leverage ratio was 3.6x<\/b> at end-March 2026, versus 3.3x at end-September 2025, i.e., comfortably lower than the level required by the Group\u2019s covenants.<\/li>\n<\/ul><p>\n<b><span class=\"bwuline\">First-half 2025-2026 results<\/span><\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwtopsingle bwleftsingle bwwidth70 bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwvertalignb bwpadl0 bwrightsingle bwrowaltcolor1 bwtopsingle bwpadr0 bwwidth15 bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2025-26<\/b><\/p><\/td><td class=\"bwvertalignb bwpadl0 bwrowaltcolor1 bwtopsingle bwrightsingle bwpadr0 bwwidth15 bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2024-25<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Revenue<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,179<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,213<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract Catering<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,320<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,373<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMultiservices<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n856<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n833<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCorporate &amp; Other<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n7<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Reported revenue growth<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-1.1%<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2.9%<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Organic revenue growth<\/b><\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1.3%<\/b><\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1.5%<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Adjusted EBITA<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>95<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>132<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract Catering<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n87<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n124<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMultiservices<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n17<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCorporate &amp; Other<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(13)<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(9)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Adjusted EBITA margin<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3%<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>4.1%<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract Catering<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3.8%<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5.2%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMultiservices<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.5%<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.0%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Attributable net profit<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>21<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>43<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet margin<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.7%<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.3%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Adjusted attributable net profit<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>30<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>56<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwdoublebottom bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAdjusted attributable earnings per share (in \u20ac)<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>0.12<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>0.22<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwleftsingle bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet debt (1)<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,182<\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,123<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwsinglebottom bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net debt\/Adjusted EBITDA (1)<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwsinglebottom bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3.6<\/b><\/p><\/td><td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwsinglebottom bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3.3<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n(1) Based on the definition and covenants in the Senior Facilities Agreement, i.e., excluding unamortized issuance costs and the fair value of derivative instruments.<\/p><\/td><\/tr>\n<\/table><p>\n<b><span class=\"bwuline\">Revenue<\/span><\/b><\/p><p>\n<b>The Group's consolidated revenue amounted to \u20ac3,179 million<\/b> in the first half of fiscal 2025-2026, compared with \u20ac3,213 million for the year-earlier period. This 1.1% year-on-year decrease reflects the combined impact of 1.3% organic growth, a 0.2% positive contribution from bolt-on acquisitions and a 2.6% negative currency effect.<\/p><p>\nOn a like-for-like basis, revenue rose by 2%, including positive volume and price effects of 0.6% and 1.4% respectively.<\/p><p>\nBusiness development was stronger overall in first-half 2025-2026 than in the comparable prior-year period. However, recent new contract wins include a higher proportion of large-scale contracts which take longer to put in place, as illustrated by the collective catering and cleaning contract for 113 middle schools in the Yvelines region, and the contract for the headquarters of a major bank in the La D\u00e9fense business district. This explains the delayed impact of business development on revenue growth and the negative net impact from contract churn in H1 2025-2026, which came to 0.7%, including the full-year effect of contract exits in fiscal 2024-2025.<\/p><p>\nThe retention rate was 91.4% at March 31, 2026, up from 91% at end-March 2025 and 90.6% at end-September 2025.<\/p><p>\nIn the <b>Contract Catering<\/b> business, organic revenue growth was 0.9%, mainly led by the United States, the United Kingdom and Spain and Portugal. In France, revenue decreased slightly year on year due to the temporary timing lag of the effects of business development, which will mainly be felt in the next fiscal year, and in Italy revenue was impacted by certain public sector contracts not being renewed in fiscal year 2024-2025.<\/p><p>\nOrganic revenue growth for the <b>Multiservices <\/b>business came to 2.6%, reflecting robust momentum for the Aeronautics and Energy\/Urban divisions, as well as a positive contribution from Facilities Services, which helped limit the impact of a revenue decline for Temporary Staffing Services in France.<\/p><p>\n<b><span class=\"bwuline\">Adjusted EBITA<\/span><\/b><\/p><p>\nAgainst a backdrop of inflationary pressures, thanks to ongoing operating efficiency gains the Group managed to offset the impact of inflation on its profitability. However, the above-mentioned timing lag of the effects of business development automatically impacted EBITA. EBITA was also weighed down during the period by a dispute over pricing terms related to a major catering contract in Italy.<\/p><p>\n<b>Consolidated adjusted EBITA totaled \u20ac95 million<\/b> in the first half of 2025-2026, down from \u20ac132 million for the same period of 2024-2025. <b>Adjusted EBITA margin narrowed by 110 basis points to 3%.<\/b> <b>Excluding the exceptional item linked to the Italian contract however, adjusted EBITA margin came to 3.9%<\/b>.<\/p><p>\nIn <b>Contract Catering<\/b>, adjusted EBITA totaled \u20ac87 million, compared with \u20ac124 million in the first half of 2024-2025. Adjusted EBITA margin narrowed by 140 basis points to 3.8%, or by 20 basis points to 5% excluding the exceptional item in Italy.<\/p><p>\nIn <b>Multiservices<\/b>, adjusted EBITA came to \u20ac21 million, versus \u20ac17 million a year earlier. Adjusted EBITA margin widened by 50 basis points to 2.5%.<\/p><p>\n<b>Recurring operating profit <\/b>amounted to \u20ac83 million in first-half 2025-2026, compared with \u20ac119 million in the first half of 2024-2025.<\/p><p>\n<b>Net non-recurring income and expenses<\/b> represented a net expense of \u20ac2 million, which was considerably lower than the \u20ac6 million net expense recorded for first-half 2024-2025.<\/p><p>\n<b>Net financial expense<\/b> came to \u20ac50 million, slightly lower than the first-half 2024-2025 figure of \u20ac52 million.<\/p><p>\nThe <b>net income tax expense<\/b> amounted to \u20ac10 million, versus \u20ac18 million for the comparable prior-year period.<\/p><p>\nIn view of the factors described above, the Group ended first-half 2025-2026 with \u20ac21 million in<b> net profit for the period attributable to owners of the parent<\/b>, versus \u20ac43 million for the six months ended March 31, 2025.<\/p><p>\n<b><span class=\"bwuline\">Cash flow and debt<\/span><\/b><\/p><p>\n<b>Free cash flow<\/b> came to \u20ac9 million, down from \u20ac205 million a year earlier, mainly due to the impact of the <b>change in<\/b> <b>operating working capital<\/b>. This item represented a cash outflow of \u20ac52 million in first-half 2025-2026, reflecting (i) the seasonal nature of the contract catering business and (ii) invoicing delays as a result of a merger within the Group's cleaning activities. In the same period of 2024-2025, the change in operating working capital represented an unusually high cash inflow of \u20ac121 million, chiefly attributable to the new securitization program set up in September 2024.<\/p><p>\nIn line with the Group\u2019s previously announced investment strategy aimed at driving its future growth and transformation, <b>net<\/b> <b>capital expenditure <\/b>rose from \u20ac61 million to \u20ac83 million, representing 2.6% of consolidated revenue versus 1.9% in first-half 2024-2025.<\/p><p>\n<b>Net debt (as defined in the SFA) <\/b>stood at \u20ac1,182 million at March 31, 2026, versus \u20ac1,125 million at September 30, 2025.<\/p><p>\nThe <b>leverage ratio<\/b> (net debt\/adjusted EBITDA) was 3.6x at March 31, 2026, versus 3.3x at September 30, 2025.<\/p><p>\n<b><span class=\"bwuline\">Outlook for full-year 2025-2026<\/span><\/b><\/p><p>\nFor the second half of the fiscal year, when EBITA is traditionally lower, the Group expects to see a similar level of business as in the first half, in view of the fact that business development will translate into revenue growth later than originally forecast. In terms of profitability, the Group estimates a figure on a par with the second half of 2024-2025 excluding the impact of the pricing dispute in Italy and taking into account ongoing inflationary pressures. Lastly, the Group expects to see an unfavorable change in operating working capital for the year as a whole, in light of its anticipated revenue growth and taking into consideration the risk of temporary delays in the collection of trade receivables following the implementation of the new electronic invoicing regulations in France as of September.<\/p><p>\nIn view of these factors, and excluding the pricing dispute in Italy, Elior Group is now targeting the following for full-year 2025-2026:<\/p><ul class=\"bwlistdisc\">\n<li>\nOrganic revenue growth, focused on profitability, ranging between 1% and 2% (versus the previous guidance of between 3% and 4%).<\/li>\n<li>\nAdjusted EBITA margin of approximately 3% excluding the exceptional item recorded in the first half (versus the previous guidance of between 3.5% and 3.7%).<\/li>\n<li>\nA leverage ratio of around 3.5x at end-September 2026 (versus the previous guidance of around 3.0x), comfortably lower than the 4.5x required by the Group\u2019s covenants.<\/li>\n<\/ul><p>\n<b>Elior has solid fundamentals and remains fully confident in its prospects for medium-term profitable growth and for deleveraging, which are strategic priorities for the Group.<\/b><\/p><p>\nThis outlook is supported by the Group\u2019s robust business development momentum combined with the continuation of its investment strategy, including in central kitchens and bolt-on acquisitions. The effects of this business development and expansion are expected to be seen more as from fiscal 2026-2027.<\/p><p>\nDespite the short-term uncertainties related to the current geopolitical situation, Elior is continuing to implement its growth and transformation strategy launched in 2023, drawing on its close proximity to its clients worldwide.<\/p><p>\n<b><span class=\"bwuline\">Presentation<\/span><\/b><\/p><p>\nThe Group\u2019s presentation of its results for the first half of 2025-2026 will take place on <b>May 21, 2026 at 10:00 a.m. Paris time <\/b>and will be accessible by webcast and telephone. Participants will be able to ask questions over the phone only.<\/p><p>\nThe webcast will be accessible via the following link:<\/p><p>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Furl.de.m.mimecastprotect.com%2Fs%2FpprGCqQOXJuEyWOvsQiRUEhjbr%3Fdomain%3Deliorgroup.engagestream.euronext.com&amp;esheet=54539460&amp;newsitemid=20260520911124&amp;lan=en-US&amp;anchor=https%3A%2F%2Feliorgroup.engagestream.euronext.com%2Fhalf-year-2025-2026&amp;index=1&amp;md5=50db937cfc83e92cc3fed8534406312f\" rel=\"nofollow\" shape=\"rect\">https:\/\/eliorgroup.engagestream.euronext.com\/half-year-2025-2026<\/a><\/p><p>\nThe conference call will be accessible via the following link:<\/p><p>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Furl.de.m.mimecastprotect.com%2Fs%2FFmaiCr2PNKfkR9AOcys0U4IHCS%3Fdomain%3Dengagestream.euronext.com&amp;esheet=54539460&amp;newsitemid=20260520911124&amp;lan=en-US&amp;anchor=https%3A%2F%2Fengagestream.euronext.com%2Feliorgroup%2Fhalf-year-2025-2026%2Fdial-in&amp;index=2&amp;md5=10ac2edeb2d7bc5744fca3c37fc72a34\" rel=\"nofollow\" shape=\"rect\">https:\/\/engagestream.euronext.com\/eliorgroup\/half-year-2025-2026\/dial-in<\/a><\/p><p>\nPlease register using the form provided via this link in order to receive the connection codes by e-mail. This will allow you to access the call directly without having to go through the operator.<\/p><p>\n<b><span class=\"bwuline\">Financial calendar<\/span><\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nNovember 19, 2026: full-year results for fiscal 2025-2026 \u2013 <b><span class=\"bwuline\">post-market<\/span><\/b> press release and conference call on November 20, 2026.<\/li>\n<\/ul><p>\n<b><span class=\"bwuline\">Ap<\/span><span class=\"bwuline\">p<\/span><span class=\"bwuline\">endices<\/span><\/b><\/p><p>\nAppendix 1: Revenue by business segment and geographic area\n<br\/>Appendix 2: Adjusted EBITA by business segment\n<br\/>Appendix 3: Consolidated financial statements\n<br\/>Appendix 4: Definitions of alternative performance indicators<\/p><p>\n<b>About Elior Group<\/b><\/p><p>\nFounded in 1991, Elior Group is a world leader in contract catering and multiservices, and a benchmark player in the business &amp; industry, local authority, education and health &amp; welfare markets. With strong positions in eleven countries, the Group generated \u20ac6.15 billion in revenue in fiscal 2024-2025. Our 133,000 employees cater for 3.3 million people every day at 19,600 restaurants and points of sale on three continents, and provide a range of services designed to take care of buildings and their occupants while protecting the environment. The Group\u2019s business model is built on both innovation and social responsibility. Elior Group has been a member of the United Nations Global Compact since 2004, reaching advanced level in 2015.<\/p><p>\n<b>To find out more, visit <\/b><a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eliorgroup.com&amp;esheet=54539460&amp;newsitemid=20260520911124&amp;lan=en-US&amp;anchor=www.eliorgroup.com&amp;index=3&amp;md5=702a0067d8339501b0adeeafad59bcfc\" rel=\"nofollow\" shape=\"rect\">www.eliorgroup.com<\/a> \/ Follow Elior Group on X: @Elior_Group<\/p><p>\n<b>Appendix 1:<\/b><\/p><p>\n<b>Revenue by business segment<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Organic<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Changes in<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Currency<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Reported<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025-26<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2024-25<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>growth<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>scope of consolidation<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>effect<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>growth<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract Catering<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,320<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,373<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.9%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.3%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-3.5%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-2.3%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwsinglebottom bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMultiservices<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n856<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n833<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.6%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.3%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.0%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwsinglebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.9%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSub-total<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,176<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,206<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.3%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.3%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-2.6%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-1.0%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwdoublebottom bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCorporate &amp; Other<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n7<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.4%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-50.7%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.0%<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwdoublebottom bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-51.1%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>GROUP TOTAL<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,179<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,213<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1.3%<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>0.2%<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-2.6%<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-1.1%<\/b><\/p><\/td><\/tr>\n<\/table><p>\n<b>Revenue by geographic area<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Organic<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Changes in<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Currency<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Reported<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025-26<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2024-25<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>growth<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>scope of consolidation<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>effect<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwpadr0 bwwidth1 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwpadr0 bwwidth10 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>growth<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFrance<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,593<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,592<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.2%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.1%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.0%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.1%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEurope (including UK)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n892<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n895<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.8%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.0%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-1.1%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.3%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwdoublebottom bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRest of the world<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n694<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n726<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4.4%<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.0%<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-9.8%<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-4.4%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>GROUP TOTAL<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,179<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,213<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1.3%<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>0.2%<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-2.6%<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-1.1%<\/b><\/p><\/td><\/tr>\n<\/table><p>\n<b>Appendix 2: Adjusted EBITA and adjusted EBITA margin by business segment<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>H1<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwvertalignm\" colspan=\"3\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>Adjusted EBITA (\u20acm)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwvertalignm bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwwidth10 bwvertalignb bwpadr0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Year-on-year change in adjusted EBITA (\u20acm)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwvertalignm bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwpadr0 bwvertalignm\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n<b>Adjusted EBITA margin (%)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwvertalignm bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwwidth10 bwvertalignb bwpadr0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Year-on-year change in adjusted EBITA margin (pts)<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>2025-26<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>2024-25<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>2025-26<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwalignc bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>2024-25<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwpadl0 bwrowaltcolor0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract Catering<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n87<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n124<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(37)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3.8%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5.2%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10 bwvertalignb bwpadr0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-1.4 pts<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMultiservices<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n17<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.5%<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.0%<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwwidth10 bwvertalignb bwpadr0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.5 pts<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSub-total<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n108<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n141<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(33)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3.4%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4.4%<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10 bwvertalignb bwpadr0\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-1.0 pts<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwdoublebottom bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCorporate &amp; Other<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(13)<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(9)<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(4)<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nn.m.<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nn.m.<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nn.m.<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>GROUP TOTAL<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>95<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>132<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>(37)<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3.0%<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>4.1%<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-1.1 pts<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth34\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"13\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>n.m. = not material<\/i><\/p><\/td><\/tr>\n<\/table><p>\n<b>Appendix 3: Consolidated financial statements<\/b><\/p><p>\n<b>Consolidated income statement<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Six months ended March 31<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2026<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Revenue<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,179<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,213<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPurchase of raw materials and consumables<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(893)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(907)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPersonnel costs<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(1,750)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(1,745)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare-based compensation expense<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(2)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(1)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther operating expenses<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(297)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(299)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTaxes other than on income<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(57)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(63)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDepreciation, amortization and provisions for recurring operating items<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(87)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(67)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet amortization of intangible assets recognized on consolidation<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(10)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(12)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Recurring operating profit from continuing operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>83<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>119<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare of profit of equity-accounted investees<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Recurring operating profit from continuing operations including share of profit of equity-accounted investees<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>83<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>119<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-recurring income and expenses, net<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(2)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(6)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Operating profit from continuing operations including share of profit of equity-accounted investees<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>81<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>113<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFinancial expenses<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(70)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(77)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFinancial income<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n20<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n25<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Profit from continuing operations before income tax<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>31<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>61<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIncome tax<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(10)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(18)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net profit for the period from continuing operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>21<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>43<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net profit for the period from discontinued operations<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>-<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net profit for the period<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>21<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>43<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAttributable to:<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignt bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOwners of the parent<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n43<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-controlling interests<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwblockalignl bwtablemarginb bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Six months ended March 31<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac)<\/b><\/p><\/td><td class=\"bwblockalignl bwtablemarginb bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2026<\/b><\/p><\/td><td class=\"bwblockalignl bwtablemarginb bwrowaltcolor0 bwvertalignb bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Earnings per share<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Earnings per share \u2013 continuing operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.08<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.17<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDiluted<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.08<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.17<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Earnings per share \u2013 discontinued operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDiluted<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total earnings per share<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.08<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.17<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDiluted<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.08<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n0.17<\/p><\/td><\/tr>\n<\/table><p>\n<b>Consolidated balance sheet \u2013 Assets<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>At March 31, 2026<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>At September 30, 2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nGoodwill<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,688<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,672<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIntangible assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n194<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n198<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProperty, plant and equipment<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n358<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n329<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRight-of-use assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n161<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n154<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-current assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-current financial assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n153<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n158<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEquity-accounted investees<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFair value of derivative financial instruments (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDeferred tax assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n110<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n109<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total non-current assets<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,670<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,622<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInventories<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n108<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n99<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTrade and other receivables<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n816<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n783<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCurrent income tax assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n16<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n18<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther current assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n74<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n60<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCash and cash equivalents (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n79<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n195<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAssets classified as held for sale<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current assets<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,093<\/b><\/p><\/td><td class=\"bwwidth1 bwsinglebottom\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,155<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total assets<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,763<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,777<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"5\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>(*) Included in the calculation of net debt<\/i><\/p><\/td><\/tr>\n<\/table><p>\n<b>Consolidated balance sheet \u2013 Equity and liabilities<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>At March 31, 2026<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwrowaltcolor0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>At September 30, 2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare capital<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nReserves and retained earnings<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n875<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n862<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTranslation reserve<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(26)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(30)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Equity attributable to owners of the parent<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>852<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>835<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-controlling interests<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total equity<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>852<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>836<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLong-term debt (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n691<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n665<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLong-term lease liabilities (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n112<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n108<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFair value of derivative financial instruments (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n7<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n7<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDeferred tax liabilities<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvisions for pension and other post-employment benefit obligations<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n71<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n70<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther long-term provisions<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-current liabilities<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total non-current liabilities<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>908<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>878<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTrade and other payables<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n661<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n639<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDue to suppliers of non-current assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n15<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccrued taxes and payroll costs<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n688<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n706<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCurrent income tax liabilities<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n24<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n15<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShort-term debt (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n393<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n478<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShort-term lease liabilities (*)<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n56<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n53<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShort-term provisions<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n61<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n49<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nContract liabilities<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n54<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n54<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther current liabilities<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n56<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n54<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLiabilities classified as held for sale<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current liabilities<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,003<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,063<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total liabilities<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,911<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,941<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total equity and liabilities<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,763<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,777<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>Net debt<\/i><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1,179<\/i><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,116<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>Net debt excluding fair value of derivative financial instruments and debt issuance costs<\/i><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1,182<\/i><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,125<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"5\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>(*) Included in the calculation of net debt<\/i><\/p><\/td><\/tr>\n<\/table><p>\n<b>Consolidated cash flow statement<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwrowaltcolor0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Six months ended March 31<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>2026<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRecurring operating profit including share of profit of equity-accounted investees<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n83<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n119<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAmortization and depreciation<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n84<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n87<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvisions<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n13<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(8)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>EBITDA<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>180<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>198<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare of profit of equity-accounted investees<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nChange in operating working capital<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(52)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n121<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-recurring income and expenses impacting cash<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(3)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(7)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInterest and other financial expenses paid<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(50)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(50)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTax paid<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(7)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-cash movements<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n1<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net cash from operating activities \u2013 continuing operations<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>76<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>257<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPurchases of property, plant and equipment and intangible assets<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(84)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(64)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProceeds from sale of property, plant and equipment and intangible assets<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n1<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPurchases of financial assets<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n4<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProceeds from sale of financial assets<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAcquisitions of shares in consolidated companies, net of cash acquired<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(10)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(10)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther cash flows from investing activities<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n-<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net cash from\/(used in) investing activities \u2013 continuing operations<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>(89)<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>(58)<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDividends paid<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(10)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPurchases of own shares<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(2)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(1)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProceeds from borrowings<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n220<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n663<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRepayments of borrowings<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(271)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(782)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRepayments of lease liabilities<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(30)<\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(37)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net cash from\/(used in) financing activities \u2013 continuing operations<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>(93)<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>(157)<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwdoublebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEffect of exchange rate changes<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n(1)<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(8)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Increase\/(decrease) in net cash and cash equivalents \u2013 continuing operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>(107)<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>34<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Increase\/(decrease) in net cash and cash equivalents \u2013 discontinued operations<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>-<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>(1)<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net cash and cash equivalents at beginning of period<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>152<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>132<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Net cash and cash equivalents at end of period<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>45<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>165<\/b><\/p><\/td><\/tr>\n<\/table><p>\n<b>Simplified cash flow statement<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwrowaltcolor0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n<b>Six months ended March 31<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0 bwrowaltcolor0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>(in \u20ac millions)<\/b><\/p><\/td><td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2026<\/b><\/p><\/td><td class=\"bwvertalignb bwpadr0 bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>EBITDA<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>180<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>198<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet capital expenditure<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(83)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(61)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nChange in operating working capital<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(52)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n121<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare of profit of equity-accounted investees<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-recurring income and expenses impacting cash<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(3)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(7)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-cash movements<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRepayment of lease liabilities (IFRS 16)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(34)<\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(41)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Operating free cash flow<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>9<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>212<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTax paid<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwdoublebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(7)<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth70\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Free cash flow<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>9<\/b><\/p><\/td><td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>205<\/b><\/p><\/td><\/tr>\n<\/table><p>\n<b>Appendix 4: Definitions of alternative performance indicators<\/b><\/p><p>\n<b>Organic growth in consolidated revenue<\/b>: Growth in consolidated revenue expressed as a percentage and adjusted for the impact of (i) changes in exchange rates, using the calculation method described in Chapter 4, Section 4.2 of the 2024-2025 Universal Registration Document, (ii) changes in accounting policies, and (iii) changes in scope of consolidation.<\/p><p>\n<b>Retention rate<\/b>: Based on the percentage of revenue from the previous fiscal period, adjusted for the cumulative year-on-year change in revenue attributable to contracts or sites lost since the beginning of the previous fiscal period.<\/p><p>\n<b>Adjusted EBITA<\/b>: Recurring operating profit, including share of profit of equity-accounted investees, adjusted for share-based compensation (stock options and performance shares granted by Group companies) and net amortization of intangible assets recognized on consolidation.\n<br\/>The Group considers that this indicator best reflects the operating performance of its activities as it includes the depreciation and amortization arising as a result of the capex inherent to its business model. It is also the most commonly used indicator in the industry and therefore enables meaningful comparisons between the Group and its peers.<\/p><p>\n<b>Adjusted EBITA margin<\/b>: Adjusted EBITA as a percentage of consolidated revenue.<\/p><p>\n<b>Operating free cash flow:<\/b> The sum of the following items, as defined and recognized under individual line items or as the sum of several individual line items in the consolidated cash flow statement:<\/p><ul class=\"bwlistdisc\">\n<li>\nEBITDA<\/li>\n<li>\nnet capital expenditure (i.e., amounts paid as consideration for property, plant and equipment and intangible assets used in operations less the proceeds received from sales of these types of assets)<\/li>\n<li>\nrepayments of lease liabilities (IFRS 16)<\/li>\n<li>\nchange in net operating working capital<\/li>\n<li>\nshare of profit of equity-accounted investees<\/li>\n<li>\nnon-recurring income and expenses impacting cash<\/li>\n<li>\nother non-cash movements.<\/li>\n<\/ul><p>\nThis indicator reflects cash generated by operations.<\/p><p>\n<b>Adjusted net profit<\/b>: This indicator is calculated based on net profit from continuing operations attributable to owners of the parent, adjusted to exclude (i) non-recurring income and expenses, (ii) impairment of goodwill and amortization of intangible assets recognized on consolidation of acquisitions, (iii) exceptional impairment of investments in and loans to non-consolidated companies, and (iv) the impacts of gains or losses on disposals of consolidated companies classified as held for sale. All of these adjustments in (i) to (iv) are net of tax.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<b>Press contact<\/b><br\/>Silvine Thoma \u2013 <a  href=\"mailto:silvine.thoma@eliorgroup.com\" rel=\"nofollow\" shape=\"rect\">silvine.thoma@eliorgroup.com<\/a><br\/>+33 (0)6 80 87 05 54<\/p><p>\n<b>Investor contact<\/b><br\/>NewCap \u2013 <a  href=\"mailto:Eliorgroup@newcap.eu\" rel=\"nofollow\" shape=\"rect\">Eliorgroup@newcap.eu<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Organic growth of 1.3%, adjusted EBITA margin of 3% and net profit of \u20ac21 million<\/p>\n<p>Provision for losses at completion of \u20ac25 million relating to the contract with an Italian rail operator, in the context of a pricing dispute<\/p>\n<p>Excluding this exception&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9185","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9185"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9185\/revisions"}],"predecessor-version":[{"id":9186,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9185\/revisions\/9186"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}